activity and sustainable development report

Transcription

1 2014

2 what we respect Respect is an essential part of our role. Respect means leaving one s preconceptions behind, engaging in dialogue and getting to know and understand one another to improve management of employee and customer diversity, promoting social cohesion through the art of travel. people People are our most precious asset. Investing in people is priceless since this is the primary source of our excellence, performance and profitability. professional approach to customer service Complete safety is the top priority for all our activities. We use our first-class expertise and know-how to maximise the satisfaction of all our customers. dedication to the general interest We believe that a short-term outlook is incompatible with the transportation business. RATP is a public sector service company that is socially responsible and committed to its communities, both internally and externally. RATP contributes actively to urban sustainability and invests on behalf of future generations by devising competitive solutions that are long term in their outlook, focused on efficiency, safe and geared to delivering a higher quality of service for passengers. a taste for challenges Our history has accustomed us to dealing with unprecedented challenges. We are prepared and determined to face up to future challenges: innovating and being competitive, initiating and managing major public transportation projects, developing our presence in the Paris region, in France and internationally, and transforming our Group and its culture. We will face up to these challenges by harnessing our expertise and customary passion without ever seeking the easy way out or compromising on safety or our human touch. openness At RATP, our efficiency is driven by an awareness of different customers and stakeholders needs. We feel that openness to a wide range of geographic and entrepreneurial cultures constitutes a tremendous source of wealth and development opportunities.

3 contents working hard on all fronts An unprecedented investment plan Line 14: the backbone of Le Grand Paris Developments in France and international focus on passengers A world benchmark in service standards About the Stif contract Promoting an urban culture 2 vision Chairman's message Board of Directors Executive Committee Organisation chart 66 a committed operator An attractive employer Lively labour-management relations A strong commitment to regional development Vision 2020: on the right track Promoting sustainable mobility , a good year Worldwide operations: 14 countries, 4 continents A year in the life of the Group Key figures 82 financial & csr extracts Consolidated statement of comprehensive income Consolidated balance sheet Cash flow statement Workforce, environmental and social information For information: The photos illustrating the cover page and chapter headings were taken by Gueorgui Pinkhassov of Magnum Photos. They capture scenes of urban mobility in Casablanca, Florence, London, Paris and Seoul, cities where RATP operates. His photos will be exhibited from June to September 2014 across RATP's Île-de-France region network.

4 2 vision activity and sustainable development report THE GROUP HAD A REMARKABLE YEAR IN 2014, WITH GOOD OPERATING AND FINANCIAL RESULTS. GROWTH WAS DRIVEN BY THE DEVELOPMENT OF OUR SERVICE OFFERING IN THE ÎLE-DE-FRANCE REGION AND A GOOD PERFORMANCE BY OUR SUBSIDIARIES. PIERRE MONGIN Chairman and Chief Executive Officer POSITIVE MOMENTUM

5 WHAT WERE THE KEY POINTS OF YOUR 2014 RESULTS? The RATP Group's performance was quite remarkable. Revenues rose by 3.4% to 5,257 million. Passenger traffic in the Île-de-France region increased by 3% to 3.2 billion journeys thanks to tramway extensions, improved bus services and Stif's social pricing policy. Revenues generated by our subsidiaries increased by 13.7% to 914 million and now contribute almost 17.4% of the Group total. The contribution was 1.2 million including the Group's share of subsidiaries accounted for by the equity method. All our subsidiaries across the world are profitable. With net income of almost 300 million, RATP is one of the most profitable public transport operators in Europe. Consolidated cash flow from operations came to almost 1 billion at RATP Epic level, for the first time ever in its history. We have reached the target set for 2020! This is vital as it gives us the resources we need to upgrade our infrastructure. Debt has decreased for the second year running, despite heavy investment. Our robust health has also enabled us to attract talented people, with 4,300 employees recruited or integrated in Furthermore, orders placed with our sub-contractors in 2014 generated sufficient business for 25,000 jobs. Our good results in 2014 support the Group's strategy have also been able to improve our service level in two key areas: regularity and cleanliness. In 2014, twelve metro lines beat the peak hour operating targets set by the Stif indicators. Regularity on the RER B line improved by five points. Our efforts to improve metro station cleanliness are beginning to produce results, with indicators up 6% between 2012 and 2014, and 7% for the RER B stations. We will continue with these efforts, with a particular focus on the RER A, which is still not up to the standards expected by our passengers. WHAT ABOUT YOUR SUBSIDIARIES? RATP Dev, which houses our transport operations, delivered 14.2% growth in revenues, to 888 million was a particularly good year for our international operations, which now account for 71% of RATP Dev's business. In the United States, RATP Dev won the 3 DO YOUR PASSENGERS BENEFIT FROM THESE GOOD RESULTS? Yes, because we reinvest almost all our earnings. Furthermore, with the added contribution from Stif, investment in the Île-de-France region reached a record 1,580 million in Almost 470 million of this was devoted to increasing our transport capacity. Apart from developing our bus services and rapidly expanding the tram network, we have been working simultaneously on three metro line extensions (1, 12 and 14) and on engineering studies for extending line 11 towards Rosny-Bois-Perrier and line 14 towards Orly. Meanwhile, we have invested more than 1.1 billion in replacing and renovating our rolling stock, with the acquisition of new trains for the RER A line and metro lines 1 and 9, and in upgrading our infrastructure and equipment. As a result of this sustained investment, we RATP has the financial resources to upgrade its infrastructure contract to operate and maintain the Tucson streetcar and launched a new tourist bus operation in New York. In the United Kingdom, which is now RATP Dev's largest market ahead of France, operations were further strengthened with the development of the Manchester tramway and the acquisition of London Sovereign and The Original Sightseeing Tour buses in London. In India, RATP Dev opened the first metro line in Mumbai. It also signed a contract to operate the future bus network in Riyadh, Saudi Arabia,

6 4 AN AMBITIOUS STIF CONTRACT IN TERMS OF INVESTMENT AND SERVICE LEVEL representing the first step in its major ambitions for this area of the world. In France, RATP Dev won the Aix-les-Bains transport contract and delivered strong organic growth in the Île-de-France and Rhône-Alpes regions. Based on the new contracts won, RATP Dev aims to at least equal its 2014 growth rate in AND THE ENGINEERING BUSINESS? Systra, our joint engineering subsidiary with SNCF, also had an excellent year. Growth was ahead of target at 18% and net income was up 55%. The order book at end-2014 totalled more than 1 billion, equal to two years' business. Apart from its contribution to Le Grand Paris Express, Systra is also involved in designing the Jeddah metro in Saudi Arabia and in developing the metro systems in Hanoi (Vietnam), Baku (Azerbaijan) and Doha (Qatar). Our subsidiary Ixxi has won its first contract in the United Kingdom. HAVE PUBLIC SPENDING CUTS AFFECTED YOUR BUSINESS? The shortage of public funds is a worldwide problem and the public authorities have become highly selective in their choice of projects. In France, local authorities are faced with budget cuts and are reducing the scope of services in their calls for tenders (either shorter service hours or fewer routes). Our teams can respond to these new requirements, but it is not something that our industry has been used to. The position is very different in the Île-de- France region. Public transport funding is based on solid, healthy foundations. It includes a payroll-based contribution from the corporate sector driven by continuous growth in salaries. Since the beginning of our contract, Stif has therefore been able to implement a policy of dynamic growth in the transport offering, which is beginning to produce results in terms of growth in passenger traffic. This policy will have to be maintained given the huge demand for transport services, particularly in the outer suburbs. HOW WILL YOU APPROACH THE NEXT CONTRACT WITH STIF? RATP has met the targets set out in International business accounts for 71% of RATP Dev's business the contract due to end in The investment programmes have been achieved within the required deadlines and budgets. Service level indicators, which were tightened up at the beginning of the contract, have shown some real improvement. RATP has reduced its costs with a further 1.6% productivity gain in Earnings have been almost entirely reinvested in the passenger service. With Stif, we now have a win-win relationship. We would like to have a new contract that is equally ambitious in terms of investment and service level improvement. The rules of the game will have to remain stable. They enable us to plan ahead and, in particular, to recruit the skills we need to meet the deadlines for the ambitious projects awaiting us. WHAT ROLE DOES RATP PLAY IN LE GRAND PARIS? In 2014, work began on the northbound extension of line 14 towards Mairie de Saint-Ouen. In early 2015, Société de Grand Paris transferred responsibility to RATP for the entire engineering studies and work on the southbound extension of the line out to Orly airport. This is further recognition of the engineering expertise of a Group that is already the world leader in automated metro systems. Line 14, which will operated by RATP, will form the backbone of Le Grand Paris Express. It will take the pressure off the RER B line, which can no longer handle the growing daily north-south traffic flows. RATP will manage the infrastructure of the new network and will work closely with Société du Grand Paris to optimise the maintenance costs of a network infrastructure that will still be in service in the next century. Lastly, the Group is preparing to bid for the contract to operate Le Grand Paris Express, when Stif launches its calls for tenders.

7 5 AND WHAT ABOUT THE ENERGY TRANSI- TION? We intend to be a leader in this area. In 2014, the first hybrid buses were put into service in the Île-de-France region, and more energy-efficient trains, such as the MI09, were introduced on the RER A line. Our Bus 2025 project aims to achieve a zero emission, zero noise bus fleet comprising 80% electric and 20% biogas buses. As of 2015, RATP and Stif will begin testing the first standard electric buses ordered in IS THE GROUP READY TO TAKE ON THE COMPETITION? The Group is on a positive track set out in its Vision 2020 business plan. In the Île-de-France region, RATP has undergone a profound transformation in the past few years. Its continuous productivity gains, achieved through new organisational methods, are reflected in its results. Revenues have risen by 25% since 2006 and net income has increased 6.5 times. Debt is under control. In the Île-de-France region, we have demonstrated our ability to be a reliable partner to Stif and a key player in Le Grand Paris. Our subsidiaries make a strong contribution to the Group's growth, and its business Bus2025's ultimate goal: zero emission, zero noise is becoming increasingly global. This positive momentum is driven by strong employee motivation based on clear objectives, on long-established management involvement in strategy and on active labour-management relations. All our teams have a single priority and focus: customer satisfaction. Automation of metro lines 1 and 4 in Paris will consolidate the Group's world leadership in broad gauge automated metros, a fast-growing mode of transport. The Group is also carving out a leading world position in tramway systems, with an Île-de-France network that carries one million passengers a day and many other operations in North America, Europe, North Africa and Asia. We can leverage these strengths to continue developing our international operations with confidence and instil our values, the most important of which is putting people first. u THE GROUP IS ON AN EXCELLENT TRACK, DRIVEN BY STRONG EMPLOYEE MOTIVATION BASED ON CLEAR OBJECTIVES AND ON ACTIVE LABOUR- MANAGEMENT RELATIONS

8 BOARD OF DIRECTORS THE BOARD OF DIRECTORS IS RESPONSIBLE FOR STRATEGY: THREE COMMITTEES WORK ON ISSUES RELATED TO MODERNISATION, ECONOMIC MATTERS, STRATEGY, INNOVATION AND CUSTOMER SERVICES. THE AUDIT COMMITTEE HAS RESPONSIBILITY FOR FINANCIAL REPORTING, THE INTERNAL AUDIT PROGRAMME AND THE RISK MANAGEMENT POLICY. A WORKING GROUP REVIEWS ISSUES RELATED TO RATP'S COMPETITIVENESS

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12 Government representatives Marie-Anne Bacot Member of the general council for the environment and sustainable development Denis Charissoux Deputy director of the budget department Jean Daubigny Prefect of the Île-de-France region and prefect of Paris Gilles Leblanc Regional and interdepartmental director, Île de France public works and sustainable planning Solenne Lepage Transport investment director at Agence des participations de l État Pierre Mongin Chief executive officer of RATP Roland Peylet Member of the Conseil d État Augustin de Romanet Chairman and chief executive officer of Aéroports de Paris Catherine Sueur Managing director of Radio France REPRESENTATIVES SELECTED FOR THEIR EXPERTISE IN TRANSPORT OR MOBILITY POLICIES Xavier Girre Chairman of the Management Board of XAnge Private Equity and XAnge Capital, subsidiaries of La Banque Postale Patrice Raulin Former chairman of Société Lyon-Turin Ferroviaire (rail tunnel) BUSINESS EXECUTIVES Michèle Bellon Former Chairman of ERDF Chiara Corazza Delegate General of Paris Île-de-France economic capital Sophie Mahieux Chief executive officer of Crédit Municipal de Paris Représentants des clients des transports collectifs Michel Babut FNAUT (National federation of transport users) Stéphane Bernardelli UNAF (National union of non-profit family organizations)

13 Local authority representatives Gilles Carrez MP for Val-de-Marne, President of the finance commission, Mayor of Perreux-sur-Marne Annick Lepetit MP and councillor for Paris Employee representatives Laurence De Wilde-Ghikh Elected employee representative from the list supported by UNSA Abdel-Halim Lalouani Elected employee representative from the list supported by FO Didier le Pahun Elected employee representative from the list supported by UNSA Karen Pagnini Elected employee representative from the list supported by SUD Fabrizio Piras Elected employee representative from the list supported by CGT Philippe Richaud Elected employee representative from the list supported by CGT Michel Rizzi Elected employee representative from the list supported by CGT Gilles Roué Elected employee representative from the list supported by CGT Alain Ternois Elected employee representative from the list supported by CFE-CGC Other board members François Poupard Government commissioner, Director general, infrastructure, transport and maritime affairs at the Ministry of ecology, sustainability and energy Noël de Saint Pulgent Head of the economic and financial control board for transport Board secretary 30 Emmanuel Pitron Secretary general of the RATP Group Board attendees 31 Jean-Marc Cador Secretary of the CRE works council Members of the executive committee

14 EXECUTIVE COMMITTEE CHAIRED BY PIERRE MONGIN, CHAIRMAN AND CHIEF EXECUTIVE OFFICER, THE EXECUTIVE COMMITTEE HAS NINE MEMBERS, EACH OF WHOM HAS FULL AND COMPLETE RESPONSIBILITY FOR THE DAY-TO-DAY OPERATIONS OF ONE OR MORE DEPARTMENTS.

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18 1 Pierre Mongin Chairman and Chief Executive Officer 2 Alain Le Duc Chief Financial Officer 3 Emmanuel Pitron Secretary General of the RATP Group, Strategy and coordination 4 Philippe Martin Executive Vice-President, Transport and maintenance operations

19 5 Christian Galivel Executive Vice-President, Projects, engineering and investments 6 Serge Reynaud Executive Vice-President, human resources and social policy 7 François-Xavier Perin Chief executive officer, RATP Dev 8 Isabelle Ockrent Director, Communications and brand strategy 9 Franck Avice Director, Services, customer relations, public areas

20 Organisation chart at 31 march 2015 Éric DYEVRE Infrastructure Management Director Xavier LÉTY Stif contract Pierre MONGIN Chairman and Chief Executive Officer Chairman of the supervisory board of operational subsidiary RATP Dev Deputy director 10 Pascale DUGOS Control and Audit Deputy director Camille BONENFANT-JEANNENEY Chief assistant to the Chairman Executive Committee Secretary Philippe MARTIN Transport and maintenance operations Executive vice-president Franck AVICE Services, customer relations, public areas Director François-Xavier PERIN Chief executive officer RATP Dev Christian GALIVEL Projects, engineering and investments Executive vice-president General Operations Control Room Services, customer relations, public areas RATP Dev Transport operations subsidiary France and International Grand Paris Investments General safety control Cyril CONDÉ rer Regional Express Network Michel DAGUERREGARAY mts Metro, Transport and Services Patrice LOVISA bus Bus and tram networks Sylvie BUGLIONI mrf Rolling stock (rail) Marie-Claude DUPUIS mrb Rolling stock (bus) Franck AVICE sem Services and Multimodal Hubs Patricia DELON cml Business development OLIVIER DUTHUIT m2e Equipment and public area systems PROMOMÉTRO Public area management subsidiary IXXI Services subsidiary France and International Marylène COURIVAUD dit Development, innovation and local strategy Laurent FOURTUNE mop Project general contracting Jean-Marc CHAROUD ing Engineering Thien THAN-TRONG sit Information and telecommunication systems RATP mediation officer and casualty assistance officer

21 Jérôme MARTRES Railway safety Deputy director Vice-Chairman of systra engineering subsidiary Emmanuel TRAMOND Senior Executives Deputy director Nicolas BLAIN Chief of staff 11 Alain LE DUC Business and financial performance Chief financial officer cgf Financial and management control Emmanuel PITRON Strategy and coordination Secretary general of the ratp group sdg Executive management services Secretary to the Board of Directors Isabelle OCKRENT Communications and brand strategy Director com Communications and brand strategy Serge REYNAUD Social policy Executive vice-president human resources gis Social policy Rémi FEREDJ Daniel CHADEVILLE Éléonore LACROIX val Real estate policy, purchasing and logistics jur Legal affairs ratp fondation Secretary General Jean-Marc NOVARO SEDP Real estate subsidiary sec Security LOGIS TRANSPORTS RATP social housing subsidiary Philippe VAPPEREAU risk managements Deputy Director LEGEND Data protection officer Strategy and market analysis Members of the Executive Committee Subsidiaries TELCITÉ I NAXOS Telecoms subsidiary Missions ratp i

22 12 vision activity and sustainable development report vision 2020 EXPERT OPINION EMMANUEL PITRON Secretary General of the RATP Group ON THE RIGHT TRACK RESULTS ACHIEVED IN THE FIRST TWO YEARS OF THE VISION 2020 STRATEGIC PLAN ARE ON LINE WITH TARGETS, PARTICULARLY IN TERMS OF FINANCE AND GROWTH. The Vision 2020 strategic plan adopted in 2012 sets out a roadmap for building the RATP Group's future in the Île-de-France region and accelerating growth in France and abroad. It contains ambitious, demanding targets. To gain further in efficiency, Pierre Mongin has set three challenges, which have been drilled down into fourteen operational projects. Challenge n o. 1 Satisfy customers better on a day-to-day basis Projects: u Improve performance and service level on the RER A and B lines in the Île-de-France region, in association with SNCF; u Take the pressure off metro line 13 and complete the line 14 extension; u Automate line 4 to remain at the leading edge of automated systems; u Propose alternative mobility solutions; u Increase measures to combat fraud. Giving a new impetus The Vision 2020 plan targets adopted at end-2012 are still relevant. If anything, the key trends we identified at the time have escalated: public finances will remain tight in the foreseeable future; the sector will consolidate around the major international operators; the world will become increasingly urban and densely populated; global awareness of environmental issues will become stronger; the digital drive will revolutionise our industry and our relationships with customers and employees. The course we have set remains unchanged, particularly from a financial viewpoint. Today, all financial and service level indicators are on a positive trend. However, improving our profitability remains a priority. We must maintain profitable growth, optimise our available financial resources, and deliver the best possible service at the best possible cost. The Group will also be faced with a succession issue as a large number of employees are due to retire in the not too distant future. We will therefore have to improve our attractiveness as an employer among young people. With five years of Vision 2020 left to go, the new strategic guidelines adopted when Pierre Mongin was re-appointed Chairman must give new managerial impetus to the key challenges. Our targets are not just financial. We have to adopt a cross-cutting approach based on Vision 2020.

23 Challenge n o. 2 be an exemplar in sustainability Projects: u Successfully complete the Bus 2025 plan, with an all electric or biogas fleet; u Commit to a densely populated city by building 2,000 homes in Paris by 2024; u Make health and quality of life at work a key focus. Challenge n o. 3 Develop the Group, take on the competition Projects: u Rally the Group's forces to win operating contracts for the future Grand Paris Express lines (15, 16, 17 and 18); u Consolidate on our leading position in tramway systems; u Improve competitiveness, performance, quality and management processes in order to win new contracts; u Improve the performance of investments and internal engineering; u Structure our offering for tourists and occasional customers; u Develop career opportunities and mobility within the Group. 13 Vision 2020's twelve targets Rank among the world's top five urban public-transport operators with Group revenues of 7.5 billion in 2020 (+50% compared with 2012). Generate 30% of Group revenues outside of the Île-de-France region. Achieve productivity gains averaging at least 1% for RATP Epic; Generate 1 billion of cash flow per year. Control debt levels in the transport operation and infrastructure management businesses. Increase passenger traffic by 20%. Significantly improve RATP Epic's customer satisfaction score from the current 7/10. Reduce greenhouse gas emissions and energy consumption by 15% per passenger kilometre by Improve employee satisfaction relative to the current RATP Epic indicator of 7.3/10, and measure employee satisfaction at the main subsidiaries. Ensure social advancement of 1,000 employees per year. Reduce absenteeism and work accidents. Increase the representation of women among new recruits and promotions.

24 2014, A GOOD YEAR! Worldwide operations: 14 countries, 4 continents A city of contrasts, London is vibrant, provocative constructivist, ultra-modern! Gueorgui Pinkhassov A year in the life of the Group Key figures London

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26 WORLDWIDE OPERATIONS: 14 countries, 4 continents ITALY florence SWITZERLAND geneva UNITED STATES tucson austin washington new york MOROCCO casablanca ALGERIA algiers oran constantine SAUDI ARABIA riyadh BRAZIL são paulo rio de janeiro SOUTH AFRICA Johannesburg- Pretoria link métro tram bus train câble car INTERCITY

27 35 rennes châteaudun FRANCE boulognesur-mer 08 charlevillemézières paris- Île-de-france 45 orléans Intercity transport Urban transport 85 la roche-sur-yon vierzon 18 bourges 03 moulins 74 annemasse vienne aix-les-bains CHINA shenyang nanjing hong kong SOUTH KOREA seoul PHILIPPINES manila INDIA mumbai UNITED KINGDOM manchester bath londres bournemouth

28 a good year! activity and sustainable development report A YEAR IN THE LIFE OF THE GROUP EXPERT OPINION PHILIPPE MARTIN Executive vice-president Transport and maintenance operations RER B: benefits of joint management january february Lozère, 61 st disabled accessible station The RER B Lozère station at Palaiseau has been completely modernised after almost two years of work and has become the 61 st station (of 65) on the RATP network to become accessible to people with disabilities. The project was part of the accessibility programme covering the whole of the RER network undertaken jointly by the Île-de-France region, Stif and RATP. Agreement on managerial careers An agreement on managerial pay and career opportunity within RATP Epic was signed with three trade unions. In terms of career opportunity, it places the focus on developing skills, expertise and accountability, while in terms of pay, it introduces greater clarity in the pay award rules and fairer treatment for all managers. On the RER B line, which is operated jointly with SNCF, the Stif indicator measuring service regularity improved by five points in This progress is due partly to the introduction of demand-based scheduling on two dedicated tracks on the north section, but is mainly the result of the joint management system put in place by RATP and SNCF. RER B is used daily by 900,000 passengers. Since the outset, it has been managed by RATP south of the Gare du Nord and by SNCF north of the Gare du Nord. The new unified line management department now has some thirty employees from both RATP and SNCF, headed by one manager. These arrangements were completed at the end of 2013 by the new single control centre at Denfert- Rochereau, which houses both the RATP and the SNCF operating teams. All operators responsible for real-time train circulation and passenger information management, from north to south, are now grouped together in the same place, enabling joint operating methods to be introduced while respecting the specificities, rules and systems of each company, particularly in terms of safety. The new, more efficient system has enabled us to improve regularity on the line as of 2014 thanks to joint incident handling, increased responsiveness and consistent, more instantaneous passenger information. Continued modernisation of RER B will help us to progress further.

29 march Line 14: heading North The extension of line 14 toward Mairie de Saint-Ouen began on 27 March, when the first civil engineering contract (for the south tunnel and two new stations) was awarded. On 11 June, the ceremonial first stone of this initial stage in the Grand Paris Express project, was laid by Jean-Paul Huchon, President of the Île-de-France Regional Council and President of the Syndicat des Transport d'île-de-france (Stif), Anne Hidalgo, Mayor of Paris, and Pierre Mongin, Chairman and Chief Executive Officer of RATP. 19 april Contract won in Qatar Systra and its partner Parsons have won a new strategic contract in the Middle East for the project management and supervision of the construction and testing of phase 1 of the Doha metro in Qatar, due to come into service in After its success in Riyadh, Saudi Arabia, in 2013, Systra has confirmed its leadership in the public transport infrastructure engineering market. More than 1,000 buses in London! RATP Dev strengthened its presence in the United Kingdom, its biggest market, with the acquisition of London Sovereign (140 buses nd 12 bus routes in the country's capital). RATP Dev now operates more than 1,000 buses in London, including more than 130 hybrid and four all-electric buses. New station design for improved passenger service Trait d union, RATP's new station design, is being tested in six pilot stations before its gradual rollout. The new design, which aims to improve passenger flow and information availability, illustrates one aspect of RATP's policy to meet passenger expectations in terms of service. It combines a number of projects including the re-design and renovation of station areas, more service-oriented behaviour by employees and the development of new passenger information channels, mainly digital. Our aim is to become an exemplar in terms of service.

30 A YEAR IN THE LIFE OF THE GROUP Discover New York with Open Loop may Extension of line 11 becomes a reality The 6 km extension of metro line 11 towards Rosny-Bois-Perrier, with six new stations, has been declared in the public interest. In November, Société du Grand Paris signed an initial funding agreement for the engineering studies. At the year-end, RATP and Stif approved the preliminary plans for the extension, as well as the adaptation of the existing stations, for a total cost of euros 1.3 million. RATP Dev has launched Open Loop, a city sightseeing bus service in New York, with fifteen double decker buses and two tourist circuits in the heart of Manhattan. Already a leader in the sightseeing market in Paris, the Group is now setting out to conquer the market in one of the world's most visited cities. 20 Passengers have seen a decline in anti-social behaviour on public transport For the first time since its creation, the Observatory for Anti-Social Behaviour on Public Transport has recorded a decrease in the number of incidents reported by passengers in the Île-de-France public transport systems in According to a survey carried out by TNS Sofres, the incidence of anti-social behaviour witnessed by passengers has fallen by 8% compared with Convincing results encouraging us to continue our efforts to stamp out anti-social behaviour, including the fourth season of our Restons civils sur toute la ligne campaign. june 85 SECONDS BETWEEN TRAINS! The interval between automatic trains on line 14 at the peak of the morning rush hour in Paris has fallen to 85 seconds from 95 seconds in 2013 representing eight more trains an hour. No other large capacity metro in the world can match this level of peak-hour service. This line is undergoing an ambitious modernisation plan called Line 14: destination Le Grand Paris, with the aim of making it a flagship for the Group as we approach the start of the tender invitation process for the future automated lines 15, 16, 17 and 18.

31 Mumbai metro The world's fifth largest city discovers the metro! Operated by the joint venture RATP Dev Transdev Asia, Mumbai's first metro line links the eastern to western suburbs of this Indian city with its 18 million inhabitants. It will save three hours of travel time for the expected 600,000 daily passengers. 600 new employees were trained to operate the line, based on experience gained from Seoul's metro line 9, which is also operated by the joint venture. Line 4 automation Stif has agreed to 100 million of funding to automate line 4 of the Paris metro. The success of line 1 shows the benefits of automation for passengers. This new complex project to modernise an existing line will consolidate the RATP Group's undisputed leadership in automated metro lines. july First tramway in the United States! The Tucson Sun Link streetcar is the Group's first tramway in North America. It has 18 stops over a distance of 6.2 kilometres in Arizona's second largest city, which has almost one million inhabitants. Almost 60,000 people rode the streetcar in its first three months of operation. McDonald Transit the RATP Dev subsidiary responsible for its operation and maintenance worked for eighteen months with the Tucson authorities to recruit and train staff and on testing and commissioning. 21 The summer's flagship project renovation of the metro line 6 viaduct is a prime example of RATP's role as infrastructure manager. It included the replacement of tracks a nd ballast, as well as the glass roofs of two stations The line was partially closed during the works in July and August and a bus service introduced in its place. A massive communications campaign accompanied passengers during the works, not only in the stations but also through an e-alert on the ratp.fr website and on the line's Twitter account. augustviaduct makeover

32 A YEAR IN THE LIFE OF THE GROUP september Visit London with RATP Dev With the acquisition of The Original London Sightseeing Tour (TOT), RATP Dev has confirmed its ambitions in the fast-growing city sightseeing market. TOT is the leader in this market in London, with more than one million customers a year. The Group now operates in Paris, New York and London, three major tourist cities, as well as in the south of England. 22 october Bus2025 gets underway RATP launched the Bus2025 project. Its ultimate goals: an 80% electric, 20% biogas fully disabledfriendly bus fleet, intermodality and integration in the urban landscape, real-time multi-modal information and door-to-door transport. The roadmap is a very full one for the Group of experts and local authority representatives working on the project. RATP EXPERTISE IN MANILA RATP Dev will support the Manila LRT consortium for twenty years in the operation, maintenance and extension of Manila's metro line 1 and in local staff training. The 10 km extension of the country's first light rail system, opened in 1984, is a flagship project for the Philippines capital.

33 november A bus network for Riyadh RATP Dev and its Saudi partner Saptco have won the contract to operate Riyadh's future bus network (93 routes, 1,000 buses). Their joint venture will commission, operate and maintain the brand new bus network in the Saudi capital, which has a population of 5.7 million. This is a first significant success for the two partners in a country that has a large number of urban mobility projects. Manchester airport by tram Manchester airport is now linked to the city centre by a rapid, safe and sustainable mode of transport. The inauguration of the seventh tram line, one year ahead of schedule, makes the tram system operated by Metrolink, a subsidiary of RATP Dev, one of the most extensive in Europe and the biggest in the United Kingdom. An agreement on careers support RATP's management and four trade unions have signed a new agreement on careers support and mobility covering the period This agreement formalises our policy in career support. It not only guarantees that salary levels will be maintained when moving jobs but also recognises the managerial career paths required for the Group's development. 23 decembertwo more tram lines for the Île-de-France region Two new lines were opened within a week: the T6 tram on tyres with 28 trams measuring 46 metres in length that can carry up to 255 passengers, and the T8 split line (known as the Tram'Y ), which offers a record frequency of three minutes on the central section. The Île-de-France tram network operated by RATP now has almost 100 km of tracks and can carry 900,000 passengers daily. The RATP group has become a world leader in this increasingly popular mode of transport. Aix-les-Bains selects RATP Dev Construction of 2,000 homes in Paris The Lac du Bourget conurbation, which covers 18 towns in Savoie including Aix-les-Bains, has appointed RATP Dev to operate its Ondéa bus network as of 1 January The contract has several novel features, including the creation of a principal route running every 20 minutes to serve the main parts of the area, as well as a transport service for people with reduced mobility. RATP has signed an agreement with the City of Paris to build 2,000 homes in the capital by 2024, at least half of which will be social housing, as part of its industrial site redevelopment programme. Eight sites have been identified in six Paris districts. We have already built 4,000 homes in the past twenty years and this new agreement confirms our strong commitment to urban redevelopment.

34 a good year! Key activity and sustainable development report figures Further growth in revenues > Consolidated 2014 revenues: million, versus 5,083 million in 2013 pro forma, an increase of + 3.4% > Subsidiaries' contribution to Group revenues: 914 million, or 17.4 % versus 804 million or 15.8% in 2013 Target: a contribution of 30% in 2020 T6 tram line at the Châtillon-Montrouge terminus in the Île-de-France region. > RATP Dev : 885 million of consolidated revenues, an increase of 14% Growth was driven by the development of our offering in the Île-de-France region coupled with strong momentum in our subsidiaries. This momentum stemmed mainly from the increasingly global nature of RATP Dev's business, which now generates more than 70% of its total revenues in the international markets. u

35 ROBUST RESULTS 2014 EBIT: 516 million (versus 526 million in 2013 pro forma) Net income attributable to owners of the company * : 298 million (versus 293 million in 2013 pro forma) Cash flow from operations: 990 million (versus 911 million in 2013 pro forma), up 8.6% With EBIT of 516 million and attributable net income of 298 million, The RATP group delivered another good performance enabling it to continue investing while reducing its debt. Cash flow from operations, at 990 million, comfortably covered investments net of grants. u (*) Based on International Financial Reporting Standards (IFRS). PRODUCTIVITY GAIN: 1.6 point ONGOING EFFORTS TO CUT PRODUCTION COSTS AND IMPROVE EFFICIENCY LED TO NEW PRODUCTIVITY GAINS. OPERATING COSTS WERE HELD AT MILLION IN 2014, AN INCREASE OF LESS THAN 1% OVER THE YEAR. T8 Tram line. KEY FIGURES FOR RATP EPIC (ÎLE-DE-FRANCE REGION) Statutory revenues: 4,676 million (versus 4,591 million, an increase of 1.9%) EBIT: 506 million (versus 522 million giving a margin of 10.8%) Cash flow from operations: 956 million (versus 861 million, an increase of 11%) Net income: 311 million (versus 284 million) REDUCTION IN DEBT Consolidated net debt at 31 December 2014: 5,020 million (versus 5,183 million in 2013). The Group has reduced its debt for the second consecutive year. The gearing ratio (debt to equity) continued to fall, reaching 1.6 at 31 December 2014 versus 1.73 one year earlier. The Vision 2020 target is to bring the gearing ratio down to 1 or less. u 25

36 MI09 train on the RER A in the Île-de-France region. 26 Record new investment in the Île-de-France region With 1,580 million of new investment in the Île-de-France region in 2014, RATP, with Stif's support, continues its ambitious investment policy to serve its passengers. > 1,580 million invested in the Île-de-France region in 2014 (versus 1,513 million in 2013, an increase of 4%) This record investment was allocated as follows: e 1,110 million in modernising network infrastructure and in replacing or renovating rolling stock (new MI09 trains for the RER A; MF01 and MP05 trains for the metro; continued renovation of MI79 trains for the RER B; purchase of new buses). e 470 million in increasing transport capacity (extension of metro lines 4, 12 and 14, new tram lines T6 and T8, improved capacity on the metro network, additional bus routes, etc.). u Trams enjoying international success RATP has been operating tramways in the Île-de-France region for more than 20 years. In 2014, two new lines T6 and T8 were put into service, increasing capacity yet further. All lines, even the oldest, are growing in capacity. The tramway system now represents almost 20% of overground traffic and feeds growth in the metro and RER networks by bringing them passengers. With almost 100 km of lines, we now operate the largest tramway system in France and the third largest in Europe in terms of passenger traffic. We continue to expand in the international markets, operating tramway systems in Algiers, Casablanca, Constantine, Florence, Hong Kong, Manchester, Oran, Shenyang and Tucson. 181 HYBRID BUSES IN CIRCULATION IN PARIS AND 57,976 LONDON AT 31/12/2014 EMPLOYEES WORLDWIDE, AT 31 DECEMBER 2014

37 In the Île-de-France region, an ever increasing number of passengers 3,227 MILLION JOURNEYS IN 2014 (INCLUDING ORLYVAL) METRO : 1,526 MILLION JOURNEYS (+0.4%) RER : MILLION JOURNEYS (+1.1%) BUS : 1,001.4 MILLION JOURNEYS (+4.5%) TRAM : MILLION JOURNEYS (+22%) Traffic on RATP's networks in the Île-de-France region has risen thanks to an increased overground transport offering, particularly on the tram network, Stif's social pricing policy and the introduction of non-zoned pricing during weekends and school holidays. Traffic should continue to increase in 2015 driven by the new T6 and T8 tram routes opened in December u sustained recruitment policy 27 In 2014, The RATP group recruited or integrated 4,300 employees, including 1,500 in the subsidiaries and 2,800 in RATP Epic (2,200 new hires and 600 employment support contracts). 800 people in RATP Epic are employed on government-subsidised youth contracts. The Group's business also generated 25,000 indirect jobs in u 1,580 MILLION OF INVESTMENT IN 2014 VERSUS 818 MILLION IN 2007 GROWTH IN INVESTMENT (IN M )

38 WORKING HARD ON ALL FRONTS An unprecedented investment plan Line 14: the backbone of Le Grand Paris Developments in France and international Ultra-modern yet respectful of traditions Seoul on an overcast day. Gueorgui Pinkhassov Seoul

39 29

40 30 working hard on all fronts activity and sustainable development report An unprecedented investment plan IN 2014, RATP CONTINUED ITS AMBITIOUS INVESTMENT STRATEGY IN THE ÎLE-DE-FRANCE REGION SUPPORTED BY STIF. THE PROGRAMME TOTALS MORE THAN SIX BILLION EUROS OVER A PERIOD OF FOUR YEARS. 1,580 MILLION INVESTED IN 2014 u modernising existing infrastructure and equipment: 584 MILLION; u increasing transport capacity: 470 MILLION; u replacing and renovating rolling stock: New MF01 trains on Paris metro line MILLION. We invest in developing new transport services, replacing our rolling stock, maintaining and renovating existing infrastructure, continuously improving service level and introducing innovative new services, particularly in passenger information. u

41 31 Start of works on the line 14 extension out to Mairie de Saint-Ouen station in the Île-de-France region. Going ever further METRO LINE EXTENSIONS BRING PARIS CLOSER TO ITS SURROUNDING REGIONS AND REACH OUT TO MEET THE FUTURE GRAND PARIS EXPRESS LINES. THE TRAM NETWORK ALSO CONTINUES TO EXPAND FOUR METRO LINE EXTENSIONS With the start of work on the northbound extension to line 14, our engineering teams are now working on three metro line extension projects simultaneously. The line 14 extension to Saint- Ouen will relieve traffic on line 13 by about 20-25% and improve the travelling conditions of its 610,000 daily users. It will serve the rapidly developing north-western districts of Paris, including Clichy-Batignolles in the 17th arrondissement. A fourth project is also on the drawing board the line 11 extension to Rosny-Bois-Perrier. Several key project milestones were reached in 2014, including the declaration of public interest, approval of the preliminary scheme and financing of the engineering studies. u Line 14 to Mairie de Saint-Ouen (four new stations); u Line 4 to Bagneux (two new stations); u Line 12 to Mairie d'aubervilliers (two new stations); u Line 11 to Rosny Bois-Perrier (six new stations). TWO NEW TRAM LINES The tram line extensions and new lines are fully integrated with the large-capacity rail networks, increasing coverage of the Île-de-France region and making it easier to travel between suburbs. Two new tram lines the T6 and T8 were inaugurated within a few days of each other in December, one year after the T5 and T7. At

42 3 minutes, is the time between trams on the central section of the T8 line at peak times almost 100 km long, the Île-de-France tram network is now one of the three biggest in Europe in terms of passengers carried. The momentum will not stop there, as Stif has already approved two new extensions (T1 eastbound and T3b westbound) and is reviewing two more. Lines opened in 2014 u T6 : 14 km between Châtillon and Vélizy (to be extended to Viroflay in 2016 including an underground section), 21 stops. u T8 : 8,5 km between Saint-Denis, Épinay-sur- Seine and Villetaneuse, 17 stops. First split tram line in the Île-de-France region. Highest frequency of the entire network: every three minutes on the central section at peak times. 32 Planned projects u Extension of the T3b to Porte d'asnières (eight new stops over 4.3 km). This will improve local service in the north west of Paris and strengthen links with neighbouring towns. u Extension of the T1 between Bobigny and Val-de-Fontenay (15 new stops over 7.7 km). It will then be connected to the existing multi-modal network and the future Grand Paris network. u The T3b tram line in the Île-de-France region. More often, more capacity SERVICE HAS BEEN INCREASED IN ALL MODES OF TRANSPORT (METRO, RER, TRAM, BUS) ACROSS A NETWORK THAT IS ALREADY ONE OF THE DENSEST IN THE WORLD. UPGRADING OUR ROLLING STOCK TO INCREASE PASSENGER CAPACITY WAS A KEY FOCUS OF THE YEAR. METRO, THE BENEFITS OF MODERNISATION The time between trains can been reduced in total safety through the installation of state-ofthe-art control systems, both on the ground and on-board, and the full automation of metro lines, two core areas of RATP's expertise. u Line 1: full automation of line 1, which was completed in 2013, has resulted in an almost 11% increase in capacity. With up to 725,000 passengers a day, it is the busiest line on the Paris metro. u Line 14: in June, the time between trains on line 14 was reduced to 85 seconds at the peak time of the morning rush hour, a world first for a large-capacity metro. There are now 35 more trains a day in each direction on this line, which first opened in u Line 5: after line 3, it was line 5's turn to be equipped with the Octys continuous speed control system. This improves safety and can potentially reduce the time between two trains to 90 seconds. In 2014, the regularity indicator for line 5 improved significantly. u Lines 2, 5 and 9: 12 new MF01 trains ordered

43 in 2014 will be deployed on these three lines by They will enable the time between trains to be reduced during peak times. u Line 4: a future automatic line! Project financing, estimated at 344 million, was approved in 2014 by the Boards of Directors of RATP and Stif. Automation of line 4 will increase its capacity, regularity and safety, with an immediate increase in the number of trains in circulation, time between trains potentially reduced to 85 seconds and a 5-10% improvement in commercial speed. Which ultimately means increased operational flexibility and greater comfort for passengers. NEW RER TRAINS On the RER A, we continue to introduce the new MI09 double-decker trains, which have proved very popular with passengers, at a rate of two per month. In the first half of 2017, the 130 units ordered will all be in service. The capacity provided for the million or so passengers who travel on this line daily will then be 30% higher than in 2008, when this flagship programme was first launched. On the RER B, which is operated jointly with SNCF, the renovation of RATP's 66 MI79 trains will be completed in summer REORGANISATION OF BUS SERVICES In areas served by a new tram line, RATP reorganises its bus network to optimise intermodality. In addition, at Stif's request, the bus services on 49 routes were strengthened in 2014, with greater frequency during peak hours, the intro- duction of evening or weekend services and route extensions. Over the period , the transport offering will have increased by more than 5%, mainly thanks to Stif's support for the Bus Plan ( 160 million). u 82 MI09 in service at end ,000 passengers carried daily on the Île- de-france tram network DID YOU KNOW? Tramway, a great success! The Sacem semiautomatic driving system used on the central section of the RER A reduces the time between two trains to two minutes, offering more or less optimum operating conditions. An automatic control system is due to be installed on this section and the Sacem system will be extended east as far as Noisy-Champs, a very busy branch line, which will lead to improved regularity and journey time gains. Passengers in the Île-de-France region love the tramway. The introduction of the T5 and T7 lines in 2013 led to a 30% increase in the number of passengers travelling by tram. Increased capacity on lines T2 and T5 both of which very quickly exceeded forecasts in terms of passenger numbers has been approved buses routes to be strengthened over 3 years DID YOU KNOW? The use of articulated buses is one of the best ways of increasing capacity. They can be used to meet the growing demand on some routes without increasing the number of buses in circulation. Seven additional routes will be equipped with these new buses by 2016 and about twenty by Line 91 hybrid articulated bus in Paris. 580 articulated buses in service in 2014

44 Track renewal project on an RER A viaduct in the Île-de-France region. 34 Large-scale upgrade INFRASTRUCTURE RENOVATION CONTINUED APACE THROUGHOUT THE AIM IS TO PROTECT OUR ASSETS AND GUARANTEE PASSENGER SAFETY. MODERNISATION OF PUBLIC AREAS, SYSTEMS AND EQUIPMENT CONTINUES IN 2015 TO IMPROVE PASSENGER SERVICE. 1,000 tonnes of new ballast is brought in to the RER A tunnel and the same amount of used ballast taken out every day on average during the works. DENFERT-ROCHEREAU, AN OPTIMISED STATION A third platform at Denfert-Rochereau station (RER B) can now handle passengers arriving from the south during times of extreme disruption on the central section. Passengers have several alternative travel solutions from this station, including the metro and bus. CHÂTELET-LES-HALLES, A COMPLETELY REDESIGNED HUB An additional access to Châtelet-les-Halles RER station opened in early 2015, offering passengers the initial benefits of the renovation of Europe's biggest underground station. The transformation, which includes a larger transit hall, streamlined passenger flow, escalators and additional lifts, and new entrances and exits, will continue until the end of 2016 with no disruption to service. 800,000 passengers use the Châtelet-les-Halles RER hub every day RER A, RENDEZ VOUS IN SUMMER 2015 An unprecedented project is due to start on the RER A in summer 2015, including full replacement of the tracks and ballast on the central section between Nanterre-Préfecture and Vincennes. Part of the line will be closed for several weeks each summer during two major periods of work: from 2015 to 2018, there will be no service at all on some parts of the central section and then, between 2019 and 2021, work will continue on the other sections during the night. The project took four years of meticulous preparation. Removing old ballast and bringing supplies into an underground project in the heart of Paris is a real challenge, as is the organisation of alternative transport services. This major line is one of the busiest in the world, with an average of more than one million passengers a day. In 2014, an initial communications campaign informed the general public about the four-week disruption to service from 25 July to 23 August 2015 inclusive, enabling passengers to plan ahead. u

45 EXPERT OPINION CHRISTIAN GALIVEL Executive vice-president, Projects, engineering and investments Bus2025, a plan for the future RATP has embarked on a forward-looking reflection about the future of bus travel in It covers four key areas: u improving intermodality and better integrating buses into the urban landscape; u anticipating the future expectations of passengers and local Improving service, preparing for the future authorities (real time multi-modal information, door-to-door transport, passenger relations, etc.); u reducing pollution: a zero noise, zero emission fleet comprising 80% electric and 20% biogas buses by 2025; u making the bus network fully disabled-friendly. Every year for the past three years, we have invested 1.5 to 1.6 billion in our Île-de-France network, with Stif's support. This massive investment meets two objectives: improving passenger service and preparing for the future. It enables us to serve new geographical areas, strengthen our peak-time services and improve passenger comfort and service. Our Metro 2030 programme aims to upgrade rolling stock, transport systems, public areas and services on the Paris metro, and to continue extending existing metro lines. This will bring the historic network up to the same standards as the future Grand Paris network. The extension of line 14 and approval of the full automation of a second manual-drive metro line, line 4, following on from line 1, will consolidate our world leadership in automated metro systems. The many new tram lines we have introduced demonstrate our ability to successfully complete complex projects in diverse urban environments using very different technologies. Combating air pollution in cities is a priority so we have set ourselves an ambitious target of having an all-electric or biogas bus fleet by The first stage is to progressively replace our diesel buses with hybrid vehicles. All these projects demonstrate our expertise and they are major strengths for our future role in designing and, later, operating the new Grand Paris lines. With more than 6 million invested in the four years from 2012 to 2015, RATP has met its commitments to Stif and the residents of the Île-de-France region. DID YOU KNOW? RATP has ordered several large-capacity electric buses (12 metres long) that can carry 90 passengers for its future experimental all-electric route. 35

46 36 working hard on all fronts activity and sustainable development report Line 14, the backbone of Le Grand Paris WORK HAS BEGUN ON THE EXTENSION OF LINE 14 TO MAIRIE DE SAINT-OUEN, THE FIRST STAGE OF LE GRAND PARIS, WITH THE FINANCIAL SUPPORT OF SOCIÉTÉ DU GRAND PARIS. Yvelines Beyond 2030 Hautsde-Seine Versailles- Chantiers 18 Nanterre La Folie Alternative route Essonne Val-d Oise Saint-Denis-Pleyel Paris Aéroport d'orly Mairie de Saint-Ouen 14 Villejuif-Institut G. Roussy Seine- Saint-Denis Val-de-Marne Extension of line 14 to Mairie de Saint-Ouen u 5.8 km of tunnels using two tunnelling machines; u 4 new stations; u 1 new storage and maintenance SIDING at Saint-Ouen Seine-et-Marne The line 14 extension to Mairie de Saint-Ouen began officially on 11 June with the ceremonial laying of the first stone. When it comes into service, the length of the trains will be extended from six to eight carriages to cater for the 150,000 extra passengers expected daily (550,000 at present). The project is being carried out jointly by RATP and Stif, with financial support from Société du Grand Paris (SGP). In a second stage, line 14 will be extended northbound to Saint-Denis-Pleyel and southbound to Orly airport by 2024, with a total length of about 30 km underground. RATP will be responsible for the infrastructure and systems on the southbound extension. The extended line 14, which will form the backbone of Le Grand Paris, will be connected to the new Grand Paris Express lines (15, 16, 17 and 18), eleven metro lines and the five RER lines. A SHOWCASE FOR RATP'S EXPERTISE Almost 20 years after it first opened, line 14 the world's first broad-gauge, heavy-traffic automated metro line is still much appreciated by passengers in the Île-de-France region. It must remain a flagship for the Group and help us win contracts to operate the other Grand Paris lines. It is therefore undergoing a massive modernisation plan, known as Line 14: destination Le Grand Paris. The plan will bring the line up to unrivalled standards of excellence and service level, with 85 seconds between trains, new MP05 trains, renovated stations, water infiltration treatment, new escalators and availability of 3G/4G by 2016/2017. u

47 Le Grand Paris Express in 2030 u 4 new automated lines and 2 extensions u 205 km of lines u 72 new stations RATP GROUP, STAKEHOLDER IN LE GRAND PARIS FUTURE INFRASTRUCTURE MANAGER RATP has been designated by law as manager of the new Grand Paris Express network infrastructure. We will therefore be responsible for interoperability, safety and availability of the new network. We are working closely with the Société du Grand Paris to guarantee a reliable, sustainable network. ENGINEERING The RATP group will support SGP until lines 15, 16, 17 and 18 are put into service by Our subsidiary Systra has won the project management contract for all automated systems and rolling stock as well as an owner assistance contract for all systems, making it a key partner to SGP until the end of the programme. Seventeen RATP stations will be linked to the new network, for smooth, fast connections. We are currently studying the options for adapting seven metro and RER stations to connect with the future line 15 southbound. 37 OPERATION RATP will operate line 14 extended southbound to Orly and northbound to Saint-Denis-Pleyel, as well as line 11 extended eastbound to Noisy-Champs, as part of its current operating rights. We are preparing to respond to tender invitations launched by Stif for operating the new lines 15, 16, 17 and 18. u

48 38 working hard on all fronts activity and sustainable development report Developments in France and international Seoul metro line 9. WE HAD AN EXCEPTIONAL YEAR IN 2014 IN TERMS OF EXPANSION, PARTICULARLY IN THE INTERNATIONAL MARKETS THROUGH OUR SUBSIDIARIES RATP DEV AND SYSTRA. Two ambitious targets u Be among the top 5 global urban public transport operators u Generate 30% of Group revenues outside of the Île-de-France region 885 Million in consolidated revenues (+14%) 128 Million in capital expenditure and financial investment 19 Million in Ebit

49 EXPERT OPINION FRANÇOIS- XAVIER PERIN Chief executive officer, RATP Dev RATP Dev's rapid international expansion 14 countries, 4 continents Dynamic and profitable expansion The RATP group was already known for the exceptional quality of its network in the Îlede-France region. It is now acknowledged as a global player with operations and projects in 14 countries. RATP Dev generates 70% of its revenues outside France and competes with the largest global groups. We have proved our ability to operate in very diverse areas of the world and in all modes of transport. This success reveals just how much the Group's unique expertise is sought after on a global scale was an exceptional year. We had many successes, including winning the Riyadh contract, targeted acquisitions, successful introductions of new transport services and the launch of a city sightseeing service in New York. This momentum will continue in 2015 as these new activities should generate further 15% growth in revenues to more than 1 billion a year. It will be rational, profitable growth, as illustrated by the increase in our net income. With a gearing ratio of 0.3, we have the means to expand. In addition, RATP Dev is strengthening its organisation and methods in order to conquer new markets. Innovation is the core pillar of our We'Dev 2018 business plan and it was therefore very encouraging to see such a high level of employee participation in our first internal Innov & Go challenge: we received 107 proposals from more than 33 subsidiaries. In 2014, RATP Dev exported the Group's expertise in operating and maintaining all modes of transport to new territories. International business now accounts for 70% of its revenues. Its development strategy focuses on three areas: u operating urban bus networks under contracts with local authorities, often including other services such as school transport, transport for people with reduced mobility and transport on demand; u commissioning, operating and maintaining tram and metro lines, two modes of transport in which RATP's expertise is renowned worldwide; u BtoC mobility services: city sightseeing tours (in Paris, London and New York), urban and intercity transport services in deregulated markets. u Riyadh, Saudi Arabia. 39 The Group's unique expertise is sought after on a global scale.

50 Different operating models Who decides on Who owns Who takes on Who takes on the the offering? the rolling the commercial industrial risk?** stock? risk?* public service concession agreement Examples: Boulogne-sur-Mer, Charleville-Mézières The contract signed by the transport authority and the chosen operator sets out the transport services to be provided and prices using an indexation formula. The operator is subject to obligations in terms of results. Two possibilities: 1- It is owned by the transport authority, which makes it available to the operator. 2- It is owned by the operator and may be taken over by the transport authority at the end of the contract. The operator bears a large part of the commercial risk. In addition to revenues, a lump-sum subsidy is received. The network operator bears the industrial risk. chartering agreement Examples : London, Riyadh The transport authority sets all service requirements and prices. Two possibilities: 1- It is owned by the transport authority, which makes it available to the operator. 2- It is owned by the operator and may be taken over by the transport authority at the end of the contract. The transport authority bears the commercial risk. The operator is paid on a per-kilometre basis according to the terms of the contract. The network operator bears the industrial risk. technical assistance agreement Examples: Manila, Rio de Janeiro The transport authority remains the network operator. The service provider provides managerial skills. It belongs to the transport authority, which makes it available to the service provider. The transport authority bears the commercial risk. The network operator bears the industrial risk. deregulated market agreements Examples: Yellow Buses (Bournemouth, United Kingdom), Open Tour (Paris, France) The transport operator is free to determine and change the services provided at any time. The transport operator owns the rolling stock. The transport operator is paid in the form of passenger fares and associated revenues. It bears the commercial risk. The transport operator bears the entire industrial risk. * Passenger fares. ** Cost of providing transport services: payroll, maintenance, energy costs.

51 Building a network in Riyadh THE RIYADH BUS NETWORK MUST BECOME A MODEL FOR THE FUTURE TRANSPORT INFRASTRUCTURE PROJECTS PLANNED IN SEVERAL OTHER CITIES IN SAUDI ARABIA. OUR PARTNERSHIP WITH SAPTCO, WHICH DATES BACK ALMOST FIVE YEARS, IS BUILT ON SHARED PRINCIPLES AND VALUES, FIRST AND FOREMOST OPENNESS AND RESPECT FOR PEOPLE. The Riyadh bus network must become a model for the future transport infrastructure projects planned in several other cities in Saudi Arabia This is the very first time that a large city has asked an operator to design a bus network from scratch. This broad mobility project will radically change the quality of life of the Saudi capital's 5.7 million inhabitants. The network is expected to carry more than 100 million passengers each year. The contract will be worth some 1.68 billion over 12 years. Riyadh's transport authority, the ADA, was seeking an operator that combined genuine local operating experience with recognised know-how in setting up world class transport networks in large cities. RATP and Saptco met these needs: the two partners have been working closely since 2010, combining their expertise and submitting joint bids for urban transport systems in Saudi Arabia. THE GOALS u Provide the city of Riyadh which does not as yet have a public transport system with a bus network to the highest international standards. u Take the pressure off the saturated city roads. u Encourage citizens who are used driving everywhere to try this practical, comfortable and safe alternative. FIVE MAJOR CHALLENGES u Create a network from scratch in 36 months, with a three-stage implementation in 2016/2017. u Plan the project and work with the other groups responsible for building a metro system (six lines) and renovating the water evacuation system. u Obtain very high quality standards: frequent service, dense coverage, highly efficient ticketing and information systems, and customer culture. u Reshape the urban landscape where the car has so far reigned supreme (dedicated bus lanes, 4,000 stops, etc.). u Recruit and train local staff: 4,200 employees including 3,200 drivers. TWO COMPLEMENTARY PARTNERS u The RATP group brings expertise acquired in capital cities such as Paris and London and in setting up new mobility services (Algiers, Oran, Constantine, Casablanca), in very diverse cultural environments. u Saptco has been the leading public transport operator in Saudi Arabia and the surrounding region for 40 years. It has in-depth knowledge of the Kingdom's road network and the expectations of its citizens. u 41 a fleet of vehicles 4 high service level buses (hslb) 2 circular routes 16 regular routes Riyadh, Saudi Arabia 70 feeder routes (fixed and transport on demand)

52 Ondea bus, Aix-les-Bains. 42 A world leader in buses RATP DEV OPERATES A FLEET OF MORE THAN 7,000 BUSES WORLDWIDE. IT OPERATES BUS NETWORKS IN MANY URBAN AREAS AND SEVERAL INTERNATIONAL CITIES, A MARK OF RECOGNITION OF ITS CUSTOMISED APPROACH. DID YOU KNOW? EXPERTISE IN BUS STATIONS The Group has expertise in managing and operating bus stations. EM Services, a subsidiary of RATP Dev, is in charge of the Rennes bus station. In addition, RATP Dev itself has won a six-year contract to manage and operate the new Vélizy bus station in the Paris region. It is expected to serve 750,000 passengers a year. In France, outside the Île-de-France region, RATP Dev operates in medium-sized towns such as Bourges, Vierzon, Moulins and Boulogne-sur-Mer. It won a major contract in 2014 for the Aix-les-Bains network (18 towns, 57,000 inhabitants). A BESPOKE NETWORK FOR AIX-LES-BAINS RATP Dev has won a six-year contract to operate the Aix-les-Bains bus network. It will reorganise the 21 routes (including 19 local bus routes) and adapt them better to local requirements. The network will comprise a main route, with buses every 20 minutes, serving the major parts of the area. Several novel features will be introduced: u a dedicated route serving the thermal baths in 2015; u a transport service for people with reduced mobility; u an operation and information assistance system for passengers. 1,000 BUSES IN LONDON The acquisition of London Sovereign (140 buses, 12 routes) in April and the success of London United and Epsom Coaches have strengthened RATP Dev's presence in London. The British subsidiary now operates 81 bus routes in Greater London, with more than 1,000 buses operating out of 10 depots on behalf of Transport for London (TfL), the city's transport authority, representing 12% of London's entire bus fleet. In January, TfL awarded London United the contract for the E3 bus route, a major route that serves several sightseeing landmarks in London. +61% IN BOURNEMOUTH In six years, Yellow Buses has increased its passenger traffic and revenues by 61% in the totally deregulated Bournemouth market in southern England. Success built on a high quality passenger experience. UNITED STATES McDonald Transit operates bus networks in fifteen American States. u

53 Specialist in city sightseeing OPEN TOUR IN PARIS, OPEN LOOP IN NEW YORK, THE ORIGINAL LONDON SIGHTSEEING TOUR IN LONDON RATP DEV IS CARVING OUT A POSITION AS WORLD LEADER IN CITY SIGHTSEEING TOURS. Tourists can use its double decker buses to discover the three big cities at their own pace. Already the market leader in Paris with Open Tour, RATP Dev has now become the leader in London following its acquisition of The Original London Sightseeing tour, pioneer in this business in the United Kingdom with 63 years of experience. A few months earlier, RATP Dev set out to conquer the New York market, where it is now the challenger. Each city has its own specific features but RATP Dev intends to capitalise on the boom in city tourism by leveraging the expertise developed by its various subsidiaries. u 43 London Original Tour 90 buses, three tours, more than a million passengers a year Paris Open Tour 40 vehicles, four tours, 700,000 passengers a year New York Open Loop 15 buses, two tours launched in May 2014 with a target of 200,000 customers in the first year

54 Tucson tram line. 44 Tramways on four continents WE INTEND TO BECOME WORLD NUMBER ONE IN TRAMWAY SYSTEMS, WHICH WE ARE NOW ACTIVELY DEVELOPING ON FOUR CONTINENTS. We leverage our experience in designing, operating and maintaining tramway systems to provide network owners with valuable expertise during the pre-operation and commissioning period. RATP Dev operates in Algeria, Brazil, China, the United States, France, Italy and the United Kingdom. A YEAR AHEAD OF SCHEDULE IN MANCHESTER RATP Dev has inaugurated the new tram line linking Manchester airport the country's largest regional airport to Manchester city centre (14.5 kilometres, 15 stops). It came into service a year ahead of schedule, illustrating the excellent co-operation between our subsidiary and Transport for Greater Manchester (TGM), the city's transport authority. To open the new line in record time, RATP Dev developed a driver training programme using a simulator. It also introduced a contactless ticketing system in co-operation with TGM. It now operates and maintains the seven lines of this tram network, which has become one of the most extensive in Europe and the largest in the United Kingdom within the space of just a few years. MISSION ACCOMPLISHED IN TUCSON In July, RATP Dev put its first tramway in the United States into service in Tucson, Arizona's second largest city. The Sun Link streetcar links the university to the city centre and serves some vibrant neighbourhoods and employment zones in this city of one million inhabitants. The line has become a main axis for Tucson. Biggest tramway system in the United Kingdom, 92 km and 92 stops 30 million passengers a year

55 Algiers tramway: 20.4 km and 32 stops NEW EXTENSIONS IN NORTH AFRICA The Algiers tramway continues to expand with a new section opened on 15 April, just before its second anniversary. The extra 4.6 km and six new stations have changed the lives of residents in the eastern districts of the capital, now served by this new section. A further extension is also planned, as are extensions for Oran and Constantine. u DID YOU KNOW? RATP Dev will also operate and maintain the first tram line in Washington DC, due to open in Algiers tramway. 360 MILLION OF REVENUES GENERATED BY RATP DEV IN THE UNITED KINGDOM IN 2014 Manchester tramway. UNITED KINGDOM, RATP DEV'S BIGGEST MARKET the united kingdom is now ratp dev's biggest market. with extensive operations in london (buses and tour buses), manchester (tramway) and bath (tour buses), ratp dev also operates in the fully deregulated market in bournemouth under the yellow buses brand. selwyns travel provides intercity transport and transport on demand services for manchester and two towns to the west of the city, runcorn and st helens.

56 Metro: partnerships in Asia IN ASIA, RATP DEV'S EXPANSION IN METRO OPERATIONS IS DRIVEN BY ITS JOINT VENTURE WITH TRANSDEV. Seoul metro. RATP DevTransdev Asia aims to become the leading non-asian operator in this part of the world. Furthermore, RATP Dev and Transdev began operations in the Philippines in The RATP group has also signed a friendship agreement with the Chengdu metro in China aiming to share their respective expertise in urban railways. 46 Mission accomplished in Mumbai The first metro line in Mumbai made its inaugural journey on 8 June, a real event in this megalopolis of 18 million inhabitants. Metro One Operation Ltd (70% owned by RATP Dev Transdev Asia) successfully completed the pre-operation phase and was awarded an operation and maintenance contract for at least five years. THREE CHALLENGES WERE MET u Training: the trainers of the 600 employees of Mumbai's first metro line themselves received training during several months on the Seoul metro line 9. u Passenger flow management: 140 operatives guide passengers in the 12 stations to ensure that the 25-second stop time is observed. u Safety: stringent safety standards have been implemented and a vast awareness campaign carried out among the general public. 12 km and 12 stations 3.2 minutes between trains during peak hours 600,000 passengers daily 27 km and 25 stations 430,000 passengers daily 10 years more in Seoul In South Korea, the operating and maintenance contract for line 9 of the Seoul metro, awarded to RATP Dev Transdev Asia in 2009, has been renewed for a further 10 years. It is the only metro line in South Korea's capital to be operated by a private operator. Line 9 is exemplary for its regularity and service level. Employees each receive at least 100 hours' training every year. The staff are therefore able to deal with many technical problems swiftly, reducing unforeseen problems which cause delays and disruptions. Expert in Manila RATP Dev has signed a 20-year contract with the Manila Light Rail consortium to provide operations and maintenance support for line 1 of the Manila metro. The first light rail system in the Philippines, opened in 1984, is currently undergoing a 10 km extension, a flagship project for the country's capital. As part of this project, RATP Dev will provide its expertise and advice in equipment and infrastructure operation and maintenance. It will also be responsible for training local staff. u 20 km and 20 stations Nearly 180 million passengers a year

57 Engineering, second growth driver THE GROUP'S GROWTH IS ALSO DRIVEN BY OUR ENGINEERING SUBSIDIARIES SYSTRA, JOINTLY OWNED BY RATP AND SNCF, AND IXXI WHICH PROVIDE INNOVATIVE MOBILITY SUPPORT SERVICES. THEY ARE POWERFUL GROWTH DRIVERS. 1 billion, Systra's total order book at 31 December 2014 systra Systra is the world leader in public transport infrastructure engineering. Revenues grew by 18% in 2014 to reach more than 500 million. Its order book totalled 1 billion at 31 December It has client references in 150 countries. In April, the joint venture between Systra and Parsons won a new strategic contract in the Middle East for the project management and supervision of the construction and testing of phase 1 of the Doha metro in Qatar (85 km), due to come into service in In the wake of the 2013 contract to build the Riyadh metro, this new success confirms Systra's position as global leader. u DID YOU KNOW? The first section of the Dubai tramway in the United Arab Emirates opened on 11 November It is the only line in the world to be entirely powered by ground-based electricity supply. Systra was project manager for this project. 47 Ixxi Ixxi, a specialist in mobility support services, will provide its expertise for the brand new Riyadh bus network, which will comprise 1,000 buses and 4,000 stops. It will install the ticketing and passenger information services and will run the ticketing system on behalf of the operating company, Public Transport Company (subsidiary of RATP Dev and Saptco). In the United Kingdom, Ixxi has won a contract to provide passenger information services for the bus network in the county of Tyne and Wear in the north east. u DID YOU KNOW? Telcité Our telecommunications subsidiary has signed nine new contracts to provide fibre optic services in the Île-de-France region. Zenway, un nouvel écran écran tactile d information urbaine intégrée est Zenway expérimenté screen in à la the gare Charles-de-Gaulle Étoile Gaulle-Etoile RER à Paris. A station in Paris.

58 Cable car, a developing transport solution 48 As we all know, RATP operates the Montmartre funicular... But not so many people know that The RATP group also operates the Salève cable car in Haute-Savoie. Six months ago, it re-opened its doors to the public. More attractive and more modern, it now operates even throughout the winter and gives a 360º panoramic view over Geneva, attracting tourists from across the world as well as local Savoyards. Success is assured for the RATP Dev, TPG and Comag consortium that operates the service: in six months, passenger numbers had already exceeded the level for the entire year in Interestingly, it was while riding this cable car that a New York developer recently had the idea of installing a similar system in Brooklyn and Manhattan! In his view, the technology is rapid, reliable and will make the New York skyline even more attractive. There are a number of urban cable car projects currently on the drawing board, particularly in the Île-de-France region. This mode of transport has many benefits, including its capacity, a lower infrastructure cost than other forms of public transport, and a relatively small land requirement. Automatic and electric, it does not directly emit greenhouse gases and is energy efficient. In other words, a virtuous means of transport. u DID YOU KNOW? In January 2015, The RATP group which has made intermodality one of its key strengths and Poma, a designer and developer of cable car solutions, signed a co-operation agreement for urban cable car systems. One of the aims is to submit joint tenders for cable car projects, which offer an alternative for local authorities seeking to develop their urban transport network. Salève cable car in Haute-Savoie.

59 RATP Group, historic leader in automated metros Ongoing innovation to meet passenger needs PARIS: 90% OF THE PARIS METRO USES AUTOMATED CONTROL SYSTEMS PARIS: LINE 14, THE FIRST FULLY-AUTOMATED, LARGE-CAPACITY METRO, IS PUT INTO SERVICE PARIS: FULL AUTOMATION OF LINE PARIS: RATP BEGINS TESTING AUTOMATED CONTROL SYSTEMS PARIS: RATP OPERATES ORLYVAL, A VAL-TYPE AUTOMATED LIGHT RAILWAY TO SERVE ORLY AIRPORT SÃO PAULO: RATP DEV OPERATES THE FIRST FULLY- AUTOMATED METRO LINE IN LATIN AMERICA PARIS: FULL AUTOMATION OF LINE 4 Four levels of automation Controlled manual driving Semi-automated control with driver Automated driving with on-board staff Fully automated driving The driver manages all aspects of driving the train manually. The train is operated using automated controls. The driver is in charge of opening and closing doors, authorises the start-up of the train, monitors the tracks and handles unexpected situations. A person (not a driver) is on board to open and close doors and handle incidents. No staff aboard. The control system manages all operations, supervised remotely by a control centre. Expertise across four continents SEOUL (SOUTH KOREA) 430,000 passengers a day PARIS (FRANCE) 5.6 million passengers a day 2 large-capacity 11 lines lines 1 narrow-gauge line (VAL) >portes palières SÃO PAULO (BRAZIL) 600,000 passengers a day 1 large-capacity line >portes palières ALGIERS (ALGÉRIA) 50,000 passengers a day 1 line MANILA (PHILIPPINES) Almost 180 million passengers a year MUMBAI (INDIA) 600,000 passengers a day 1 line 1 line 1 line

60 FOCUS ON PASSENGERS A world benchmark in service standards Stations drift past as life takes its course In the serenity of Florence. Gueorgui Pinkhassov About the Stif contract Promoting an urban culture Florence

61 51

62 52 focus on passengers activity and sustainable development report A world benchmark in passenger service THE BEST TRANSPORT OPERATORS STAND OUT AND WIN CONTRACTS BECAUSE OF THE STANDARD OF SERVICE THEY PROVIDE. IN THE RATP GROUP, WE USE INNOVATIVE TOOLS AND SERVICES AND UNITE OUR STAFF AROUND A SERVICE CULTURE. Delivering superior customer service on a dayto-day basis is one of the targets we have set ourselves for the years ahead. Drawing on our innovative business culture, we invest in new services and adapt our organisation to make sure that travel becomes increasingly smooth and easy and that passengers can use their travel time effectively. This ambition is based on a shared service culture throughout the Group, which is adapted by each subsidiary to its own market environment. Employees in contact with customers are encouraged to adopt proactive service-oriented behaviour; for example making themselves visible and available to passengers, particularly those who need assistance. Operation Christmas green jackets at Bir-HakeimHakeim station in Paris. 110,000 Facebook fans in France after one year 22,000 m 2 of retail space managed in Paris and Lyon ONGOING CONTACT WITH CUSTOMERS Facebook, Twitter... we are strengthening our presence on the social media and using these new channels to stay in contact with our customers. This strategy has two objectives: u to meet passenger expectations in terms of information and services; u to build a powerful digital brand, in line with the latest Web trends. PROMOMÉTRO Promométro, our retail space management subsidiary, attracts new brands and services to the public areas of our transport networks. Marks & Spencer chose La Défense RER station in Paris for its first 1,500 m 2 food store. u 14 million passengers to satisfy every day worldwide DID YOU KNOW? In France, we have set up a Service Academy to spread our service culture. This training programme is designed for all staff who are in contact with passengers.

63 EXPERT OPINION FRANCK AVICE Director, Services, customer relations, public areas DID YOU KNOW? In North Africa, the RATP Dev subsidiaries that operate the Algiers metro and Casablanca tramway with their partners provide an extended evening service during the month of Ramadan, to cater for the increase in activity after nightfall. Each subsidiary adapts the Group's service culture to its own market environment 53 A modern, human network Many tools and services we have tested over the past few years are now being rolled out on a broader scale. For example, we are providing multi-modal information screens enabling passengers to display their entire journey from beginning to end, as well as new mobile apps and broadband capability. We are also strengthening our presence on the Web and social media. These new technologies help us to develop a more personal relationship with our passengers. That said, our service standards depend first and foremost on our staff, who are in daily contact with passengers. Customer service staff in our metro and RER stations spend less and less time on selling tickets, a task that used to take up as much as 80% of their time. For those networks that have chosen to go the all-technological route, we have decided to maintain a human presence at all stations throughout service hours. This choice reflects our desire to offer an impeccable standard of service to both regular and occasional passengers. We train our customer service staff to adopt proactive service-oriented behaviour through our Ambition Clients programme. They are encouraged to take every possible opportunity to interact with passengers. Passenger service has long been a key area of innovation for the Group. Protection and security officers on the platform at Nation station in Paris. OUR SERVICE STANDARD IS BASED ON: u safety, which is our top priority; u attentive employees who focus on contact with customers to better meet their needs; u accurate, reliable, personalised information; u pleasant, clean equipment and public areas throughout the journey; u innovative tools and services for passengers and staff; u ongoing efforts to meet the commitments we have made to the transport authorities and to our passengers (transport service offering, frequency, etc.).

64 54 focus on passengers activity and sustainable development report About the Stif contract THE OPERATIONAL COMMITMENTS MADE IN THE CONTRACT WITH STIF WERE MET IN RATP HAS FURTHER IMPROVED ITS PERFORMANCE IN TERMS OF SERVICE LEVEL. ALL NETWORKS ARE ON A POSITIVE MOMENTUM. 79% of passengers said they were satisfied with the standard of service in RATP's networks (metro, RER, bus and tram) The Stif survey covered 60,000 people throughout the year The contract with Stif the Île-de-France region transport authority contains ambitious targets in terms of improving service level, measured by 141 performance indicators, some of which are revised each year. By successfully meeting this challenge once again in 2014, we have demonstrated our ability to improve performance on a long-term basis, ahead of the contract renewal for METRO, CLOSE TO EXCELLENCE The metro has improved its service standards to a record level, as measured by the Stif indicators. All metro lines achieved the peak-time train service and frequency targets set by Stif (96.5%), with the exception of two, which are now very close. RER, GETTING BETTER Improving service level on the RER is a priority. RER B: the Stif indicator measuring punctuality on this line operated jointly with SNCF improved by five points in 2014 (to more than 88%). This was mainly due to the introduction of shared line management, with a unified line department and a single control and operations centre housing RATP and SNCF staff at Denfert-Rochereau station. RER A: the punctuality indicator improved by one point. The control centres operated by RATP and SNCF (which runs two western sections) now share a live view of train circulation status across the entire line, making it easier to work together when service is disrupted. The 82 new MI09 double-decker trains already in use (of the 130 ordered) have sufficient capacity to absorb all passengers waiting on the central section platforms during peak times (30 trains an hour). BUS The new control and passenger information centre (CRIV) is progressively centralising all control operations for RATP's 347 bus routes in the Île-de-France region. This has improved the service level thanks to optimised control, quicker response to disruptions and better passenger information. u 240 Île-de-France buses controlled by the CRIV at 31 December 2014

65 RATP & STIF: who does what? on which infrastructures? RATP is the legal owner of the rail network infrastructure. WHO DECIDES ON THE SERVICES AND TICKET PRICES? Stif decides on the transport services to be provided and on ticket prices. WITH WHAT ROLLING STOCK? Stif is the legal owner of the rolling stock and tooling at maintenance workshops. Who finances investment? Stif and RATP jointly finance (50/50) the replacement and renovation of rolling stock on existing lines. RATP finances the replacement of infrastructure and other assets using the cash flow it generates each year. Stif finances 100% of the purchase price and maintenance cost of new rolling stock intended to develop the transport offering. Who is in charge of operations? RATP is the designated operator of existing or extended lines: l until 31 December 2024 for the bus network l until 31 December 2029 for the tram network l until 31 December 2039 for the metro and RER network. Who pays? Since December 2009, in accordance with EU regulations on public service obligations and the French law on the organisation and regulation of rail transport, Stif has introduced competitive bidding for new lines, for all modes of transport. RATP bears the industrial risk (cost, compliance with scheduled train service, implementation of the investment plan). Stif pays RATP in accordance with the terms set out in a four-year contract ( ). RATP and Stif share the commercial risk (passenger fares) And afterwards WHEN RATP'S MONOPOLIES COME TO AN END (2024, 2029 AND 2039): l THE ROLLING STOCK IS RETURNED TO STIF WHICH COMPENSATES RATP ON THE BASIS OF CARRYING VALUE l STIF SELECTS ITS OPERATOR(S) FOLLOWING A COMPETITIVE BIDDING PROCESS (RATP OR A THIRD PARTY) l STIF CONTINUES TO PAY RATP FOR THE USE AND MAINTENANCE OF THE RAIL NETWORK INFRASTRUCTURE

66 Welcoming public areas OUR PUBLIC AREAS ARE THE FACE OF RATP'S TRANSPORT NETWORKS. WE INVEST IN THEM HEAVILY AND TAKE GREAT CARE TO PROVIDE EXCELLENT STANDARDS OF COMFORT, EASE OF ACCESS, CLEANLINESS AND SAFETY. 56 Almost 7 million passengers use the metro and RER daily Making our networks accessible to everyone In accordance with the 2005 French law on equal rights and opportunities, participation and citizenship of people with disabilities, we continue to make our networks increasingly accessible to people with motor, sensory or cognitive disabilities. The one exception to this is the Paris metro, which is exempt from the legislation due to the technical difficulties involved in making the infrastructure wheelchair-accessible. In France, all RATP Dev's urban networks will be more or less compliant with the legal targets in In the Île-de-France region, all buses will be equipped with voice announcements and retractable platforms for people in wheelchairs. Our teams work closely with the local authorities responsible for adapting the roads and pavements. In addition, we have introduced staff training across all our networks in France. RATP and many subsidiaries are working with passenger associations and user committees to take better account of their needs, in collaboration with the local authorities. A new design Services can be displayed and organised in a way that makes them quicker and easier for passengers to understand, especially occasional passengers. In 2014, RATP launched a new harmonised design for the metro and RER. Three pilot stations were chosen to test a new design for the public areas coupled with improved, more coherent signage to facilitate the passenger journey and access to information. The new design covers retail areas, information desks, ticket halls and intercom systems. Within three years, the 369 metro and RER stations in the Île-de-France region will have a fully harmonised design Gare de Lyon station in Paris DID YOU KNOW? At Roche-sur-Yon, as part of the Osons le bus mobility workshop, the bus network offers passengers with reduced mobility the possibility of being accompanied by a hostess on their first bus journey.

67 Facelift for the metro and RER Under the Renouveau du métro programme, the entrances, interchange halls, corridors and platforms of some twelve stations were given a facelift in 2014 to make them more pleasant for passengers. This programme of over 400 million, financed in full by RATP, will involve 273 stations by A similar programme has been launched for the RER. Some twenty stations will be renovated by Châtelet, 250 th metro station to be renovated 200 million invested in improving cleanliness and combating water infiltration in Cleanliness and water infiltration Cleanliness is an essential component of service standard. Our Île-de-France underground networks are faced with a specific challenge in this respect: water infiltration caused by factors beyond our control, such as the water table level, road works, pipe breakages, etc. Despite the 70 million we spend each year on daily cleaning, this problem does nothing to help the image of the metro or RER. We have therefore launched an exceptional 40 million programme to combat water infiltration in Extensive waterproofing work will be done on some fifty stations from the road level. In addition, some ten stations underwent a flash clean operation in 2014, which included repainting and tile repairs as well as traditional cleaning. 57 DID YOU KNOW? A CONCIERGE SERVICE IN THE METRO Mairie de Montrouge station has opened the very first concierge service in a public transport network. It enables passengers to pick up orders placed online with retailers in the town of Montrouge, which is partner to the project. An innovative service that illustrates our desire to make day-to-day life easier for our passengers. Cleaning at Olympiades station in Paris. Anti-social behaviour: humour works Our humorous, slightly offbeat communications campaign, Restons civils sur toute la ligne, is beginning to produce results. The annual survey carried out by TNS Sofres on behalf of the Observatory for Anti-Social Behaviour on Public Transport, created by RATP in 2012, recorded a decrease in the incidence of anti-social behaviour witnessed by passengers in the Île-de-France region in Our fourth campaign in 2014 was backed up by a series of posters displayed in unusual places to surprise passengers, such as on platform edge doors, anti-fraud turnstiles and the outside of tram carriages. An elephant has been added to the campaign's menagerie of animals this year to illustrate the obstruction caused by passengers crowding right in front of the doors when people are trying to get off. u The incidence of anti-social behaviour witnessed by passengers in 2014 has decreased by 8%

68 58 focus on passengers activity and sustainable development report Reaching out to passengers WE ARE IMPROVING OUR SERVICE STANDARDS AND MAKING OUR CUSTOMER SERVICE STAFF MORE PROFESSIONAL THROUGH AWARENESS TRAINING AND BY PROVIDING THEM WITH NEW TOOLS. 5,000 tablets and smartphones used by customer service staff for online connection Our Ambition client approach which aims to promote a genuine service relationship has entered its operational phase. The main aim is to make staff in the metro and RER more visible. It is based on training staff to take a proactive approach and make spontaneous contact with passengers to offer assistance, for example showing a tourist how to use a ticket machine, helping a passenger with heavy luggage or guiding a person who is unsure... Customer service staff in stations are now virtually free of any ticket selling responsibilities and are encouraged to play a front of house role, making sure that passenger and safety equipment is available and that the areas they are in charge of are clean. The introduction of mobile teams on RER has the same basic objectives. CONNECTED EMPLOYEES Customer service staff in the metro and RER and ticket inspectors are gradually being equipped with smartphones and tablets. The deployment of 3G/4G capability will enable all employees to connect to RATP's systems to: u look up an itinerary and calculate the ticket price for a customer; u provide passengers with live information about traffic during periods of disruption; u alert maintenance immediately in the event of any irregularities, malfunctions or deterioration (machine breakdown, dirty floors, graffiti to be removed, etc.); u report found property or, conversely, look for lost property; u help passengers to find their way outside, etc. LOST PROPERTY? FOUND MORE QUICKLY! On average, passengers lose more than 10,000 items on the public transport network every month. Two new services in this area were introduced in u 300 Navigo cards sare found every day on our Île-de-France networks. They were previously cancelled immediately and had to be replaced. Now, RATP will contact the owner if a telephone number or address is known and the card can be retrieved quickly. u Almost 20,000 items lost on the metro and RER were returned to their owners in A new lost property service has improved passenger service yet further. If a passenger reports a lost item quickly, an employee will go to look for it and retrieve it before it is sent to the lost property service at the police station or destroyed as a suspicious package.

69 59 TWITTER ACCOUNT DEDICATED TO CUSTOMER SERVICE Each year, RATP's customer service department receives 220,000 telephone calls and 100,000 letters or s from its customers requesting information or making complaints. The dedicated customer service account ClientsRATP launched in November deals more quickly with queries and complaints. DID YOU KNOW? Our 27,000 customer service staff are gradually being supplied with new uniforms to make them more visible and therefore easier for passengers to identify. ELSEWHERE IN THE WORLD IN MUMBAI 140 operatives employed by Metro One Operation (subsidiary of RATP Dev Transdev Asia) guide and channel passengers in the twelve stations of Mumbai's new metro in India, which came into service in They support the 180 employees who work in customer relations or ticket sales. MEDIATION EXTENDED TO RATP DEV RATP's mediator now covers RATP Dev's Îlede-France subsidiaries. Mediation offers a very sensible alternative to long, drawn-out and often costly legal disputes. u New RATP uniform.

70 Campaign to promote the Image screens at Odéon station in Paris. 60 The right place at the right time PASSENGER INFORMATION IS A KEY FOCUS OF INNOVATION THROUGHOUT THE GROUP, WITH THE AIM OF PROVIDING PASSENGERS WITH A USEFUL, USER-FRIENDLY SERVICE. 1,000 Image screens in use at end stations will be equipped with Zenway screens in the next few years Passengers want to know the easiest way of getting somewhere, how long they will have to wait and what the connections are. They want to remain in touch during their journey and be informed when traffic is disrupted. Apart from the customer service provided by our staff, our quality of service is based on testing and rolling out innovative tools and more personalised services, such as touch screens, new mobile apps, 3G/4G capability, stronger presence on the Web and social media. NEW IMAGE SCREENS The Image display screens (general multi-modal information in public areas) are gradually replacing the video displays in the waiting areas in metro and RER stations and on some platforms. They provide multi-network information on waiting times, traffic status and available connections. A NEW TOUCH SCREEN CURRENTLY BEING TESTED Charles-de-Gaulle Étoile has been chosen to test the first Zenway touch screen terminal. The screen provides extensive information for passengers, including underground or overground itinerary display, train timetables, journey time to the airport, as well as specific information about places in the area (hotels, restaurants, tourist sites) and how to get there. NFC STICKERS AT BUS AND TRAM STOPS Bus and tram passengers in the Île-de-France region now have a new information channel to facilitate their travel. After SMS alerts and QR codes, RATP has begun to roll out NFC techno-

71 logy on its bus and tram networks. By waving a smartphone in front of an NFC sticker, passengers can see the waiting time between the next two buses or trams on all lines served by the stop. They can look up local transport services, work out an itinerary and find their way around the district. ENHANCED MOBILE SERVICES RATP's mobile app has been given a new look, with more user-friendly navigation, personalisable home page, new services and new functionalities. DID YOU KNOW? A TOP COM AWARD FOR RATP SCOPE RATP Scope, a web page dedicated to behind-thescenes and passenger information, won a Top Com gold award (digital section), which rewards the best communications achievements of the year. NFC (NEAR FIELD COMMUNICATION) NFC is a data exchange technology. Most mobiles are equipped with an NFC chip. MOBILE BROADBAND IN OUR PUBLIC AREAS The first stage of rolling out 3G/4G capability in our metro and RER stations began in 2014, with coverage of RER lines A and B and metro line 1. The four French operators can all share the same infrastructure. The second phase in 2015 will equip the 110 stations that are used by more than three million passengers a year. This programme, eagerly awaited by passengers, is also essential for the new services provided by RATP operatives equipped with smartphones and tablets. u 13,000 bus and tram stops will be equipped with nfc stickers in 2014/ million unique visitors use the ratp mobile app every month In 2017, RATP's metro and RER network will be the first in the world to be fully covered by 3G/4G 61 VISITORS ARE INCREASINGLY WELL LOOKED AFTER On average 10% of passengers using our Île-de-France transport networks are occasional customers (tourists, business visitors, etc.). As well as signs and announcements in foreign languages and employing more young green jackets who speak several languages to help tourists during the summer, we are making further efforts to look after our visitors: u the free app for tourists, Visit Paris by metro, is now available in more languages and covers some thirty more tourist attractions. It is now available in English, German, Dutch, Italian, Spanish and Japanese. Its functionalities can also be used offline so that tourists can enjoy their visit to the capital without having to spend money on data roaming; u two Roissybus shuttles tested a free Wi-Fi service for tourists arriving in Paris over a period of six months. A powerful digital ecosystem The digital tools developed by RATP to improve live information services and optimise travel in the Île-de-France region have proved highly successful: u our website more than 5.5 million unique visitors; u RATP mobile app and its personalised alert service: 4 million downloads; u Visit Paris by Metro (in 7 languages): more than 600,000 downloads; u 23 Twitter accounts (one for each metro, tram and RER line). DID YOU KNOW? A WELL EARNED AWARD FOR YELLOW BUSES RATP Dev's subsidiary in Bournemouth in the south of England won an award for best ticketing service of the year. Its Glo Card can be topped up as needed and customers are alerted when their credit is running out. Families can manage several cards on the same account.

72 FULL digital capability At 31 december 2014 mobile information TWITTER ACCOUNTS Live traffic information for each metro, RER and tram line corporate: 12,700 followers lines: 107,300 followers HR: 3,950 followers customer service, created in 2014: 915 followers MARATP Personalised live traffic alerts, useful addresses and exclusive benefits 83,300 visitors per month in 2014 (average) J AIME MA LIGNE Tips on things to do and places to go along your favourite line 258,000 downloads since 2011 OPEN DATA RATP makes its transport data available to developers, project managers and start-ups to create services and applications that benefit residents of the Île-de-France region 8,430 visitors a month in 2014 (average) The next bus arrives in 5 minutes ratp.fr/ratpscope RATP WEBSITE Presents the network, Group news, passenger services etc. 5.5 million unique visitors per month OFFICIAL RATP APP Designed to optimise travel in and around Paris 6,131,000 downloads since 2011 RATP SCOPE Live information on the cause and handling of incidents lasting more than two hours Behind the scenes information! 10,144 unique visitors per month VISIT PARIS BY METRO A multitude of services to help tourists discover Paris 753,000 downloads since July 2013 FACEBOOK Caring for the city: posts on cultural and sports partnerships, as well as games and contests 112,800 fans YOUTUBE 1,200,000 VIEWS / LINKEDIN 10,700 SUBSCRIBERS / VIADEO 7,400 SUBSCRIBERS 2,500 SUBSCRIBERS station information traffic Around the network, screens display live traffic information about all bus, metro and tram lines multi-modal information 3,000 new Image screens between now and the end of 2015 will provide multi-modal information* from all operators in the Île-de-France region** *Metro - RER - tram - bus - train ** RATP - SNCF - Optile network

73 Promoting an urban culture RATP IS DEVELOPING AN AMBITIOUS CULTURAL POLICY IN ITS PUBLIC AREAS, LIVELY SOCIAL PLACES THAT HOST EVENTS AND ENTERTAINMENT THROUGHOUT THE YEAR. PHOTOGRAPHY HAS BECOME A KEY FOCUS IN THIS APPROACH. More than 100 cultural and sports partnerships in 2014 SEVERAL PREFERRED FORMS OF EXPRESSION RATP provides access to the city through its transport services, which are used daily by 14 million passengers in France and worldwide. Through our cultural policy, a source of emotion and pleasant surprises, we make their journey a richer, more enjoyable experience. Our aim is not only to provide a few moments of distraction and escape but also to encourage passengers to discover new things and new people, to make culture widely accessible to all... to make them genuinely care for the city. RATP invests primarily in three areas: music, literature and heritage. In 2013, we embarked on a novel, ambitious photography policy. The diversity of artists exhibited and the cultural partnerships we have forged illustrate our openness to all cultures. DID YOU KNOW? Our cultural and sports partnerships are all branded under RATP's own banner, Nous aimons - Nous participons. 96 % of passengers surveyed in the metro said they were in favour of these photo exhibitions. They make the journey more enjoyable (89%), they are intriguing and make you think (80%) 63 Photography takes centre stage Photography is now the spearhead of our cultural policy, with exhibitions in our networks, support for educational events and dedicated metro stations... At least three times a year, the RATP invites... programme makes the public areas of some fifteen stations available to photographers to showcase their work. In 2014, RATP invites... hosted: u selected works of Garry Winogrand, a famous photographer of American street scenes in the 1950s to 1980s, in partnership with the Musée du Jeu de Paume; u 40 works by young European photographers selected for the Circulations festival organised by the Centquatre in Paris; u 40 photos by Gueorgui Pinkhassov of Magnum Photos on the theme of urban mobility. Luxembourg station, RER line B, Paris.

74 An eclectic music selection u Metro musicians: musicians selected by a panel of employees and passengers are accredited to perform in the metro every six months. u Concerts are regularly organised in RATP's public areas. For the Fête de la Musique in June 2014, Auber station on the RER A line became a temporary concert hall and hosted both a classical and a hip hop concert. u Solidays, Rock en Seine, Art Rock, Festi Val de Marne RATP partners major festivals, which also provide an opportunity for the Metro musicians to perform. DID YOU KNOW? The RATP group is partner to the Jazz à Vienne festival in the Isère department. Each evening, RATP Dev operates free shuttle buses between the car parks and the amphitheatre. 10,000 artistes have benefited from the Metro Musicians programme. Some have even become famous, for example Manu Dibango, Lââm, William Baldé and Keziah Jones 64 80% of passengers say they read (a newspaper, book or magazine) during their journey Poetry on show Poetry is celebrated on the RATP network and we organise a major contest every two years. 6,000 poems were submitted to the 2014 edition, half as many again as in The winning poems are displayed on platforms, in trains and in buses, enabling passengers to discover new works during their journey. Heritage and creation Since 1900, the metro has been a symbol of both history and modernity. Generations of architects, engineers, artists and designers have forged and further enriched an exceptional architectural and artistic heritage. As historical partner to the European Heritage Days, in 2014 RATP proposed a programme of events combining history and current affairs, heritage and new technologies under the title Cultural heritage, natural heritage. People were able to visit Paris aboard a 1936 double-decker bus and visit the line 14 control and operations centre. Philippe Manœuvre,, sponsor of L'enquête du M during the 2014 European Heritage Days. Stéphane de Groodt, chairman of the jury for the first RATP Poetry Prize.

75 EXPERT OPINION ISABELLE OCKRENT Director, Communications and brand strategy DID YOU KNOW? Fifteen stations have been stage set to plunge passengers into a completely different world. For example the Arts et Métiers station recreated the atmosphere of Jules Verne's Nautilus, and Villejuif Léo Lagrange depicted sporting performance. 65 rapport d activité et de développement durable A powerful brand to take on the competition In a competitive public transport market, RATP's strong brand identity is a differentiating strength. We took a number of communication actions in 2014 to support our momentum as a major services brand and strengthen our relationship with our passengers. The growing popularity of our Facebook page (over 100,000 fans in one year) illustrates our capacity to interact with our customers on the social media, in the spirit of our tagline Caring for the city. We launched a Twitter account dedicated to customer service so we can respond faster to complaints and queries, which contributes to building a digital brand in tune with current Web trends. In the same spirit, the communication campaign launched almost a year before renovation work began on the central section of the RER A line will help passengers to plan well ahead for this temporary disruption to service. It also demonstrates that we are doing everything we can to help and support them. The special relationship we have with our passengers has also led to an 8% decline in the incidence of anti-social behaviour from 2012 to 2014, after three seasons of our Restons civil sur toute la ligne campaign, with its offbeat, fun tone. Lastly, this special relationship is further expressed through our cultural policy focusing on photography, an accessible popular art form ideally suited to our public areas, enabling passengers to discover the works of well-known artists and lesser known young talents. We can gain a lot by capitalising on our strong brand personality: in a competitive market, it is a genuine differentiating strength. Battle of the Somme 1916 by Joe Sacco in the corridor of Montparnasse Bienvenüe station in Paris 134-metre monumental frescoes The long interchange corridor in Montparnasse Bienvenüe station provides an ideal place to exhibit temporary monumental frescoes for two months each year, designed in both an artistic and educational perspective. In 2014, this corridor hosted: u for the centenary of the outbreak of the First World War, the panoramic work of artist Joe Saccoon on the Battle of the Somme in 1916; u The world in equations exhibition in partnership with the CNRS, giving passengers the opportunity to discover how scientists translate the evolution of galaxies, the climate or epidemics into equations; u key themes of the Paris 1900, the City of Entertainment exhibition, in partnership with the Petit Palais. u

76 A COMMITTED OPERATOR An attractive employer Lively labour-management relations A strong commitment to regional development The tramway has set reference points in Casablanca, a joyfully disorganised city. Gueorgui Pinkhassov Promoting sustainable mobility Casablanca

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78 68 a committed operator An attractive employer activity and sustainable development report TO DRIVE THE GROUP'S GROWTH, WE AIM TO RESPECT OUR EMPLOYEES, DEVELOP THEIR SKILLS AND PROVIDE A GOOD WORK-LIFE BALANCE. The proportion of women on the Board of Directors has risen to almost 30% We implement recruitment, training and career support policies to address the changing the needs of both the Group and its employees. Developments in 2014 in France and abroad enabled us to take on 4,300 new employees, including 1,500 in the subsidiaries and 2,800 in RATP Epic (2,200 new hires and 600 employment support contracts). 800 people in RATP Epic are employed on government-subsidised youth contracts. We also have a strong gender equality policy. 42% of all managers recruited by RATP Epic in 2014 were women. RATP Epic and RATP Dev's French subsidiaries take measures to promote the employment and inclusion of disabled people across a range of jobs, from operatives to managers Skills transfer RATP GROUP UNIVERSITY We offer employees development opportunities throughout their career and training is an essential pillar of this approach. The RATP group University, created in 2012, aims to prepare employees for the Group's job profiles in 2020, to share and spread a common culture among all employees (parent company, subsidiaries, operatives and managers), and to make our investment in training more effective by pooling and centralising programmes and providing cross-disciplinary training. It helps to break down barriers and encourage better team performance and greater mobility. It is open to all employees regardless of grade or job and is gradually pulling together all programmes designed to develop cross-disciplinary skills for employees of both the parent company and its subsidiaries. Thus in 2014, the Purchasing Academy joined the University alongside the RATP Service Academy, the HR professional training courses, the Perform managerial programme, the cross-disciplinary technical training for operatives, and the inclusion schemes. The University offers cross-disciplinary training programmes and supports departments in their training projects (planning and design of training and education, classroom learning, e- learning and multimedia learning). It has also set up the Club, an area for testing and sharing best practices among peers. Our international subsidiaries are taking many initiatives and harnessing synergies to satisfy the substantial training needs arising from their drive to recruit employees to operate their networks. u In the United Kingdom, RATP Dev opened the Metrolink Training Academy in 2014 for its 600 employees. An innovative driving simulator, designed by RATP Dev's teams, helped to We strive to give all our employees the opportunity to acquire and develop their skills throughout their career

79 69 Ticket sales and inspection training at Setram's premises in Oran. optimise individual training time and enabled Metrolink to open its new tram line linking the city to the airport a year ahead of schedule. The Academy trains its employees in managerial techniques and has developed an e-learning platform specifically for staff involved in customer relations. u In Algeria, Setram the RATP Dev subsidiary that operates the new tramways in Algiers, Oran and Constantine opened the first section of its urban rail transport training institute in May It offers a continuous professional development programme to propagate the Group's expertise and operating culture. u In India, the 600 drivers hired to operate Mumbai's first metro line were trained by Metro One Operation (70%-owned by RATP Dev Transdev Asia), which called upon the expertise of RATP Dev's networks in Seoul (South Korea) and Nanjing (China). u Key dates 2003 : endorsement of the United Nations Global Compact : endorsement of the Diversity Charter : publication of the Group Code of Conduct : publication of the practical guide on secularism and neutrality in the workplace, adapted in 2014 for the Group's French subsidiaries. DID YOU KNOW? For the fourth straight year, RATP obtained Top Employers Institute certification, which recognises companies for excellence in HR policies. It enables young graduates and professionals to pinpoint those companies that have an employee-centric policy. For RATP, Top Employer certification helps to promote its best practices in human resources and is a strong contributor to its drive to attract new talent. Within the Group, it is a strong sign of recognition for the values and commitment of the entire management team and its HR function.

80 70 Health and safety, a twofold priority The customer service teams working on line 9 of the Seoul metro (RATP Dev Transdev Asia) receive one hundred hours of training per employee per year, enabling them to acquire all the various skills needed to manage potential problems in the field Providing a safe, healthy workplace for employees is one of our fundamental commitments. Quality of life in the workplace is a key pillar of our Vision 2020 strategic plan and a powerful performance driver. RATP Epic puts this policy into practice in three areas: u preventing risks and reducing industrial accidents and disease as well as absenteeism; u keeping people in employment by taking measures to prevent unfitness for work; u preventing exposure to arduous work for sustainable employability. We worked on developing a feedback programme in 2014, including the creation of a unit dedicated to preventing and managing unfitness for work. As part of this project, we defined guidelines for preventing and managing unfitness and conditional fitness: u take strong, ongoing measures to raise awareness among all managers of the need to prevent occupational risks and look after the health and well being of their employees; u make redeployment an effective means of reallocating skills. To meet these guidelines, ten work projects (five on prevention and five on management) began in 2014 and will be completed at end These projects were also restructured in January Improving safety at work is also a major preoccupation in many of the Group's subsidiaries: u in the United States, Fullington Autobus Company (Pennsylvania, 420 employees) has set up a committee dedicated to analysing accidents. It meets monthly to take action where required to strengthen preventive measures and training; u in the United Kingdom, Metrolink, the Manchester tramway operator, drew up a 2014 Safety Plan, with quantified targets for reducing accidents at work and developing a safety culture among management; u in Algeria, RATP el Djazaïr has set up a joint management-labour health and safety committee and an occupational risk prevention plan. In 2014, the committee worked on improving the working conditions of employees in exposed jobs (reduction in working hours and in the number of consecutive nights worked). u

81 EXPERT OPINION SERGE REYNAUD Executive Vice-President human resources and social policy Quality of life at work, a CSR commitment * 2014 SAW A NUMBER OF ADVANCES IN OUR DRIVE TO ACHIEVE A BETTER WORK-LIFE Strong momentum in internal mobility The Group is enjoying strong growth with increased services in the Île-de-France region and expansion of its subsidiaries in France and abroad. We now work within a global framework encompassing engineering, maintenance and operations, in increasingly open environments. We therefore need employees with multiple skills. Developing internal mobility is increasingly important not only to meet these challenges but also to meet the expectations of employees seeking a more rewarding career path. This is true of the parent company and the entire Group. In RATP Epic, we had a pool of more than 850 employees interested in moving jobs within the Group in That is 110 more than in the previous year. The subsidiaries, in particular RATP Dev and Systra, have already taken more than 330 of these people. I believe that this momentum is now firmly entrenched and we intend to take further measures to encourage it. Why is mobility important? It encourages the emergence of a cross-disciplinary business culture within The RATP group based on Group values. It leads to exchange and sharing of expertise and best practices. It develops responsiveness and the ability to adapt to new situations and working methods. Mobility improves skills and offers people a more diversified, rewarding career. BALANCE WITHIN THE GROUP. u Epic RATP: management and all trade unions signed an agreement providing improved incapacity, invalidity and death benefits for employees. This agreement introduces a mandatory group system of protection benefits in addition to those paid by the Social Security or the special RATP regime, providing consistent, identical benefits for the parent company's 45,000 or so employees, regardless of their grade or status. u Cars Dunois (more than 200 employees): the company has implemented an occupational risk prevention plan and taken measures to improve work-life balance. An agreement has been reached on night work. u STI Centre (more than 300 employees): a new agreement extends the top-up health insurance plan to cover school bus drivers on fixedterm contracts. Work began on the prevention of work-related stress. u 7.6 is the average employee satisfaction score obtained by RATP in 2014, 0.2 points higher than in 2013 and 0.4 points higher than the French average (Source: annual H2O social survey). 71 * CSR: corporate social responsibility.

82 72 a committed operator activity and sustainable development report Lively labourmanagement relations LABOUR-MANAGEMENT RELATIONS FORM AN INTEGRAL PART OF OUR CORPORATE CULTURE. CONSTRUCTIVE DIALOGUE BASED ON RESPECT AND TRANSPARENCY HELPS TO SUPPORT CORPORATE CHANGE AND SHARE CONCERNS. The Vision 2020 strategic plan renews our commitment to high quality human and social relations through the engagement of all stakeholders. EMPLOYEE RELATIONS AGENDA For several years now, labour-management relations have been structured at parent company level by an agenda setting out the timetable for negotiations and issues addressed during the year. This approach has been adopted by many RATP Dev subsidiaries in France and abroad strike days per employee on average in 2014 (versus 0.54 in 2013) 32 agreements signed in RATP Epic, including 17 by a majority of the trade unions PREVENTION OF CONFLICTS The parent company's social alarm system plays an active role in preventing conflict as just 6% of alarms were actually followed by a strike notification in 2014 (versus 8% in 2013). A social alarm triggers a process of dialogue between management and unions to try to find a solution within an agreed timeframe. This system is being increasingly adopted by the Group's subsidiaries, such as STU Bourges and TIM Bus (Transport interurbain de Magny-en-Vexin) in France. Our UK subsidiaries Metrolink (680 employees in Manchester), Selwyns (200 employees) and Epsom Coaches (390 employees) have also set up complaints resolution procedures. u

83 73 Mobility meetings at RATP House, Paris. NEW AGREEMENTS SIGNED In 2014, many agreements were signed with the staff representative organisations, thus consolidating our labour-management relations model. In 2014, 79 agreements with the staff representative organisations were signed within the Group For the parent company, 2014 saw two major agreements on career support, career opportunity and mobility. They will help us meet our dual objective of economic and workforce performance, and will give us better control over our resources. u Agreement on managerial pay and career opportunity: this agreement places the focus on developing skills, expertise and accountability and ensures fair treatment for all managers in terms of career opportunity and pay. u Agreement on career and mobility support: this agreement formalises our policy in career support and aims to streamline mobility towards operative jobs, where needs will be substantial, develop bridges between jobs and strengthen the integrated and cross-disciplinary nature of managerial career paths. Management-employee dialogue is decentralised within the Group. u The French subsidiaries have their own dialogue cycles for all issues that fall within the framework of compulsory annual negotiations and on more specific matters (profit-sharing, cross-generation agreement, etc.). u In Algeria, RATP El Djazaïr, a subsidiary of RATP Dev, signed a three-year agreement in 2014 on compensation, career development, prevention of conflict and exercise of the right to strike. u

84 74 a committed operator activity and sustainable development report A strong commitment to regional development THE GROUP IS INTEGRATED WITH THE COMMUNITIES IN WHICH IT OPERATES AND HAS A POLICY OF LOCAL EMPLOYMENT, ECONOMIC DEVELOPMENT AND SOCIAL INCLUSION. 25,000 indirect jobs created by the parent company's orders from suppliers DID YOU KNOW? In November 2014, RATP organised its first SME forum on the theme of industrial design to facilitate meetings and exchanges between some twenty SMEs and buyers of large companies or influential public bodies. In 2014, the Group recruited or integrated 4,300 new employees, including 1,500 in the subsidiaries and 2,800 in RATP Epic (2,200 new hires and 600 employment support contracts). 800 people in RATP Epic are employed on government-subsidised youth contracts. Infrastructure construction also creates indirect jobs, particularly in the supply chain. As part of our responsible purchasing policy, the parent company makes it easier for SMEs to win our contracts through several mechanisms, including contract division and allotment, simpler procedures and the option of forming consortia. EMPLOIS D AVENIR FOR LASTING EMPLOYMENT In 2014 as in 2013, RATP took on 200 young people in the Île-de-France region under the Emplois d'avenir government scheme, open to 16 to 25 year olds who have no qualifications or are unemployed. They are given personalised, individual support enabling them to acquire skills that will give them a better chance of finding long-term employment. RATP Epic also took on 254 people under other government-sponsored employment schemes (versus 230 in 2013). These schemes provide us with a high quality pre-recruitment process and help us to diversify our sources of recruitment to encompass the more excluded populations. Encouraging their gradual integration into the company and giving them an overview of all aspects of their chosen job are key success factors in this approach. Lastly, 600 employment support contracts (versus 540 in 2013) enabled us to offer part-time work to people excluded from the mainstream job market, mainly in passenger flow control and regulation activities. The Group's subsidiaries also introduced a variety of similar schemes in 2014: u Moulins Mobilité (Allier) et Sqybus (Yvelines) committed to the Emplois d'avenir scheme; u FlexCité 92 worked with the employment department of the Hauts-de-Seine department to focus on recruiting people living on the minimum income support benefit; u CTVMI (Yvelines) took on young people in difficulties under government-sponsored youth employment schemes; u TVM Tam (Mantes-en-Yvelines conurbation) and TP2A (Haute-Savoie) signed cross-generation agreements, a scheme that encourages the recruitment of young people and helps to keep seniors in employment (scheme adopted by the parent company in 2013); u Fullington Auto Bus Company (United States) helps veterans to find work. LOCAL PARTNERSHIPS The Group, supported by The RATP group Foundation, is developing a policy of partnerships with local associations that help people to set up in business or find employment. u A partnership with the ADIE (Association pour le droit à l'initiative économique) a major player in micro-credit in France has helped 105 micro-entrepreneurs in the districts served by the T1 tram line. The partnership was extended in 2013 and 2014 to Charleville-Mézières and Boulogne-sur-Mer, where RATP Dev operates transport networks. u In the Île-de-France region, a programme of specific initiatives called espritram was set up to accompany the introduction of new tram lines between 2012 and It is supported by the Foundation and works on projects to encourage inclusion, employment and access to

85 214 actions supported by The RATP group Foundation, including 9% outside France DID YOU KNOW? In Washington DC, The RATP group Foundation supports Horton's Kids, an association that provides educational support for children in the disadvantaged neighbourhoods of the US capital, where RATP Dev operates a new tram line. The second chance school team in Sarcelles, Île-de-France, with RATP's T5 tram line team. culture. One of the initiatives supported under this programme was a photography exhibition called The Eye of the Tram, created by pupils of the second chance school in Sarcelles, documenting the arrival of the T5 tram line in their neighbourhood. The Group has also developed a close partnership with Fondation Agir Contre l Exclusion (Face) to combat exclusion, discrimination and poverty. The RATP group Foundation also works with the second chance school in the Île-de-France region (Sarcelles and Saint-Quentin-en-Yvelines) and in the provinces (Moulins). In 2014, inclusion was a key focus for The RATP group Foundation, with support for many outreach and community associations, such as: u La Fabrik: an association that works with job seekers in Bondy (Paris suburb) to help them prepare for applying to potential employers at job fairs; u Zup de co provides Web development training for some fifty school drop-outs each year under the Web@cadémie programme, set up in association with Epitech, a computer skills school. ASSISTING THE MOST NEEDY In 2014, RATP stepped up its work to assist needy people sheltering in its networks, through two new initiatives: u experimental opening of a day centre in Charenton-le-Pont (southeast Paris) for the most needy, in association with Emmaüs Solidarité; u a partnership with the town hall of the 18 th arrondissement of Paris and the association Coordination Toxicomanies to address the recurring problem of drug addicts found in certain metro stations by guiding them towards specialist organisations or centres. u RATP GROUP FOUNDATION u Its role: to promote respect and community relations in areas where the Group operates in the Île-de-France region, in France and abroad. u Three areas for action: the Foundation supports nonprofit associations and other organisations or people that work to promote community outreach and mutual support, equal opportunity and access to education and culture. u Local roots: all projects supported have a link to the Group's activities in the areas it serves (Boulogne-sur-Mer, Charleville-Mézières, Mumbai, Johannesburg, etc.). In 2014, the Foundation strengthened its local approach by working directly with the subsidiaries to identify the social issues right from the tender invitation stage. u Employee involvement: the Group's employees are closely involved in the Foundation's governance, take an active part at all key stages of the initiatives from selecting through to assessing projects, volunteer their time to help many associations and are involved in mentoring initiatives (69 students benefited from this scheme in 2014). u Systematic assessment: all support provided to associations is assessed to measure its effectiveness and its benefits. This assessment also helps small associations to make their initiatives more professional.

86 THE T8 TRAM LINE MAKES A HUGE DIFFERENCE! The T8 tram line makes travelling easier 3 minutes between trams during peak times* One stop every 500 metres Journey time halved Connections with metro line 13, fifteen RATP bus routes, RER lines C and D, railway line H (SNCF) and the future Tram Express Nord (or Tangentielle Nord). * On the central section. 8.5 km 77,000 residents and 15,000 students concerned 17 stops, fully disabled-friendly More than 60,000 passengers a day The T8 breathes new life into the surrounding districts Employment: During the works: more than 100,000 hours of inclusion work for 162 people in need. (1) Today: 130 RATP employees (line service, maintenance employees, etc.) Appeal: attracts new businesses, shopping centre at Épinay, university project at Villetaneuse, partnership with ADIE, etc. (2) Culture: more than 800 young people benefited from the espritram programme. (3) (1) Jobs with RATP and the local authority. (2) ADIE (association pour le droit à l'initiative économique). (3) RATP Group Foundation initiatives in favour of young people. The T8 is environmentally-friendly All-electric tram 7 times less energy consumed per passenger (1) 20% reduction in greenhouse gas emissions (1) 4 kilometres of cycle track More than 1,000 trees planted, 7 kilometres of grassed area, landscaped areas, walkways and squares Eco-designed maintenance workshop: 144 solar panels, Canadian well, waste water recycling, green roof, etc. (1) Compared with a journey by car. Towns served: SAINT-DENIS ÉPINAY-SUR-SEINE VILLETANEUSE

87 EXPERT OPINION JACQUES ATTALI Stakeholder in urban redevelopment Économist, founder and chairman of PlaNet Finance Human activity sadly generates irreversible climate damage and although the finger is often pointed at transport, we shouldn't forget that the metro generates 45 times less greenhouse gas emissions than a car! That said, public transport networks must still do more. RATP is on the right track, promoting clean public transport and reducing its energy footprint. It was also one of the first large companies to attend the first positive economy forum in Le Havre in September As a public service provider, the public interest is at the heart of RATP's genetic make-up. But the Group goes even further by redefining what tomorrow's positive, sustainable, liveable city should be. It is salutary for a transport company to be thinking this way as 500 more towns will break the 1 million population barrier in the next fifteen years. Urbanisation must therefore be redefined to ensure that it does not lead to excess pollution and congestion, which can be a source of conflict and social unrest. That requires a redefinition of public transport's place in the new landscape. An exemplary company like RATP shows that the transport sector will not be the guilty party but rather the solution to transforming the economy into a positive one. Public transport companies must and can do much more to take part in the positive economy. They can save much more energy in all areas and, more particularly, they can speed up access to a comfortable internet speed so that passengers can use their travelling time more effectively. And more still: when individual cars no longer need drivers, the difference between private and public transport will disappear. Accelerated urbanisation will be a global challenge over the decades to come. By actively promoting the sustainable city, The RATP group is a key stakeholder in the positive economy. With 4,000 homes (including 2,000 social housing units) created in the Île-de-France region between 1994 and 2014, RATP has developed a forceful policy through its subsidiary Logis-Transports. The renovation of industrial installations (bus stations, maintenance workshops, etc.) provides an opportunity to build housing, offices, schools and childcare facilities. These high quality architectural programmes encourage social diversity and the cohabitation of business, housing and public amenities. They put a brake on urban sprawl in favour of a denser, more resource-efficient city. TWO ICONIC PROJECTS IN PROGRESS DURING 2014: u The Lagny-Pyrénées bus station (eastern Paris): now partly underground, its capacity will be increased by 60% while its upper floors will provide a total of 30,000 m2 of offices, a school and a crèche. The project won the 2014 Brownie Award from the famous Canadian Urban Institute in Toronto for best international urban redevelopment project. u Jourdan-Corentin-lssoire workshops (southern Paris): the new bus station will be increased from 146 to 193 spaces (plus a car park with 66 spaces for employees), on a site that will have 192 social housing units, 365 student housing units, 93 private homes, a crèche and a short-term child minding facility, a seniors club and retail outlets. RATP signed an agreement with the City of Paris in December 2014 to build 2,000 new homes (at least half of which will be social housing) by 2024 on its Paris sites. Eight sites have already been identified in six Paris districts. u Construction of 2,000 new homes 15 th vaugirard 350 homes Completion: 2019/ th croix-nivert 400 homes Completion: 2020/2022 2,000 new homes will be built by RATP by 2024 under the agreement signed with the City of Paris. At least half of them will be social housing. 14 th montrouge 645 homes Completion: th italie 150 homes Completion: th porte de choisy 70 homes Completion: th porte de la villette 130 homes Completion: th st fargeau 100 homes Completion: th dr arnold netter 60 to 80 homes Completion:

88 78 a committed operator activity and sustainable development report Promoting sustainable mobility WE DEVELOP INNOVATIVE SOLUTIONS FOR CLEAN MODES OF TRANSPORT THAT ARE BOTH ENVIRONMENTALLY AND HUMAN HEALTH FRIENDLY. -15%, is the target for reducing the Group's greenhouse emissions and energy consumption between 2004 and 2020 Although public transport is by definition environmentally friendly, we intend to be an exemplar in this field. The parent company has built its policy around four commitments: developing sustainable mobility solutions, saving energy and combating climate change, acting to protect the health of passengers and local residents, and achieving exemplary business practices. REDUCING EMISSIONS, SAVING ENERGY Energy efficiency and combating air pollution are key pillars of the many programmes undertaken by the Group for its infrastructure and all modes of transport (bus, rail networks). METRO AND RER Upgrading rolling stock and optimising operating techniques help to make major energy savings on the Île-de-France network. u The new MF01 metro trains now used on line 9 (after lines 2 and 5) reduce energy consumption by 30% and have a refrigerated ventilation system. u he automated lines 1 and 14 use driving control software to operate trains in economy mode. u The gradual replacement of rolling stock on line A with the new MI09 trains will result in 20-55% energy savings depending on the equipment. BUS We are taking many initiatives to make the bus an exemplary mode of transport in terms of sustainability. u Bus2025 RATP, which currently runs almost 350 bus routes in the Île-de-France region, set itself a real challenge in 2014: to have a bus fleet entirely comprised of electric and biogas vehicles. u In the Île-de-France region, since 1 January 2014 RATP has only ordered hybrid electric or gas-powered buses, in accordance with Stif's decision to eliminate diesel vehicles from its urban transport networks. 600 to 700 new hybrid buses will be put into service by u In London, where RATP Dev runs more than 80 bus routes on behalf of Transport for London (TfL), its subsidiaries London United and London Sovereign had already introduced 133 hybrid buses (diesel/electric) and purchased four electric buses by the end of 2014.

89 79 T3a tram line in the 13th arrondissement of Paris. 48 hybrid buses and some twenty electric buses were in use on RATP's networks in Paris and the suburbs at the end of 2014 u Eco-driving In London, Saint-Quentinen-Yvelines (Île-de-France region) and Haute- Savoie, our subsidiaries are installing telematics systems to help drivers optimise their driving and reduce their fuel consumption. u Stop & Start In Paris, Stop & Start technology, tested on board a bus carrying passengers, reduced fuel consumption by 6-8%. Some 800 buses could be equipped with this technology in due course. TRAM The tram is powered by electricity and is the least CO 2 polluting and quietest of the overground transport modes. u In the Île-de-France region, the new trams used on the T8 line since 2014 are equipped with energy-efficient braking systems. u In Manchester, (United Kingdom), Metrolink supported the transport authority TFGM in rolling out larger-capacity, more energy-efficient trams in u In Florence, (Italy), RATP Dev has launched a project to optimise the energy consumption of a tramway built in PUBLIC AREAS In the Île-de-France region, RATP s stepping up the installation of LED lighting in its stations, reducing energy consumption by more than 50%. In 2016, the RATP network will therefore be the first of its size in the world to be fully LED equipped, one year ahead of target. u

90 Bus2025, all electric or biogas WE INTEND TO ACCELERATE TECHNOLOGICAL CHANGE IN A MAJOR MODE OF URBAN TRANSPORT BY CONVERTING THE FIRST LARGE CITY BUS NETWORK TO AN ALL ELECTRIC OR BIOGAS SOLUTION, AFTER AN EXPERIMENTAL PERIOD. 80 Benefits u A comfortable, quiet bus fleet that will reduce CO2 emissions by 80% and particle emissions by 95%. u A sign of quality and modernity for Paris, a new mobility model for large cities. Strengths u With 4,500 buses in circulation, the size of RATP's fleet in the Paris region will enable it to negotiate lower prices with the manufacturers. u Thanks to a forward-looking, innovative culture, RATP's engineering teams have already experimented with many technologies (LPG, biofuel, biopowered buses, LGV, medium-sized electric buses). First order u In 2014, RATP placed an initial order for several Bluebus electric buses for testing. They are 12 metres long, can travel 180 kilometres without recharge and will have a capacity equivalent to the buses currently in service (90 passengers). Hybrid bus operating on route 21 in Paris.

91 Partnerships u RATP has signed a three-year partnership with EDF for testing large capacity all-electric buses (batteries, rapid recharge, etc.). u An agreement with GDF Suez will develop solutions for supplying natural gas and biogas close to RATP's bus stations. u DID YOU KNOW? The Créteil Saint-Maur bus station (south east Paris) can already accommodate 90 buses running on natural gas. Its capacity will be increased to 220 buses, covering its entire fleet. Canadian well on the T8 maintenance site in Villetaneuse in the Île-de-France region. 81 Exemplary business practices We implement environmental management systems and exemplary business practices, such as eco project design, environmental management of industrial sites and responsible purchasing. We spread best practices among our suppliers and service providers. ECO PROJECT DESIGN The eco project design approach used widely throughout the Group aims to reduce the footprint of new infrastructure and operating services through their life cycle. It focuses on recyclable materials and resource-efficient systems. At the T8 tram maintenance workshop in the Paris region, a Canadian well cools the air naturally in summer and warms it in winter, 144 solar panels have been installed on the roof, washing water is recycled on site, and the roofs are grassed to prevent rain water from infiltrating the mains supply. FlexCité, a subsidiary specialising in transport for people with reduced mobility in the Essonne depart- ment south of Paris, has adopted a waterless washing system for its vehicles. PROTECTING THE HEALTH OF PASSENGERS AND LOCAL RESIDENTS Protecting the health of passengers and also local residents is a key priority. Underground air quality can be improved by upgrading the rolling stock and investing in station ventilation systems. In the Île-de- France region, RATP is developing partnerships with associations such as Airparif (air quality monitoring) and Bruitparif (noise monitoring). In 2014, it made a pledge to the French environmental and energy control agency (ADEME) to eliminate noise black spots on its rail network in three towns in the south of Paris. Hong Kong Tramways (RATP Dev) is renovating 30 kilometres of its hundred year old city-centre tramway system using a process that guarantees seamless rails, which is less noisy for both passengers and local residents. u

92 82 financial extracts activity and sustainable development report Strong performance and profitability EXPERT OPINION ALAIN LE DUC Chief financial officer Our results are both positive and encouraging for the future. They show a further improvement compared with We delivered further growth in 2014, both at RATP Epic level (revenues up 1.5% to 4,343 million) and in the subsidiaries (revenues up 13.7% to 914 million). However, this continued growth was not achieved at the expense of profitability. With further productivity gains of 1.6% in 2014, RATP Epic continued to reduce its recurring cost base, consolidating on the positive momentum of the past few years, despite the persistently difficult economic environment in Our quest for efficiency has also enabled us to redeploy employees to jobs that improve passenger service and information standards. The subsidiaries are also delivering virtuous growth, as illustrated by the increase in RATP Dev's cash flow from operations and net income. The major successes of 2014, particularly the contract for the Riyadh bus network, will feed RATP Dev's growth for several years to come. Efforts made by our staff to optimise operations in all fields are therefore continuing to produce results. They are on track with the targets set out in our Vision 2020 plan. This strong performance and profitability enables us to meet a twofold challenge today: financing our growth and modernisation while reducing our debt burden. Cash flow from operations reached a record 990 million in 2014, an increase of 8.6%. Within RATP Epic, nearly all of this is reinvested in upgrading the metro and RER infrastructure owned by RATP and in replacing and renovating the rolling stock on existing lines jointly with Stif (50/50). It is crucial for us to preserve our investment capacity in order to improve the day-to-day service we offer our passengers, at a time when the public authorities are engaged in the extremely ambitious Grand Paris project. For the second consecutive year, the Group's debt has fallen slightly, to 5,020 million. We have therefore demonstrated our ability to control our debt, which is one of the objectives of the Vision 2020 plan. This trend is all the more laudable as, once again this year, we continued to pursue our assertive investment policy, with investment reaching a new record in We have not only halted the growth in our debt after years of continuous rise, but we have also achieved a further improvement in our gearing, or debt to equity, ratio. Tight control over investment budgets and stable debt levels will help us to prepare for the future with confidence.

93 Consolidated statement of comprehensive income The financial statements are presented in thousands of euros. Comparative data have been restated for the retrospective application of IFRS 11 Joint Arrangements. 1 Income statement 31/12/ /12/2013 restated Revenue (of which revenue from financial concession assets 156 million in 2014 and 153 million in 2013) 5,256,589 5,082,724 Other income from ordinary activities 571, ,542 Revenue 5,828,088 5,528,266 Cost of sales ,682 Other purchases and external charges ,451 Taxes, duties and similar payments -236, ,973 Payroll and payroll-related costs -3,019,363-2,877,988 Other operating expenses ,521 EBITDA 862, ,651 Depreciation and amortisation expense ,339 Provisions, net -3,690 8,895 Gain on disposal of assets -6,550-18,578 Gain on other consolidation scope changes 3,431 0 Impairment Other operating income (expenses) Share of income of associates 11,011 8,322 Operating income after share of income of associates 516, ,198 Financial income 9,201 11,906 Financial expense -216, ,454 Pre-tax income 309, ,650 Income tax -6,150-9,251 Consolidated net income 302, ,399 Net income attributable to owners of the company 298, ,827 Non-controlling interests 4,665 4, Other comprehensive income Other comprehensive income items are shown net of tax 31/12/ /12/2013 restated Net income 302, ,399 Change in fair value of cash flow hedges -21,254 2,872 Foreign currency translation adjustment 8,794-3,647 Share of other comprehensive income of associates that may be reclassified to profit or loss 4,664-1,514 Total other comprehensive income that may be reclassified to profit or loss -7,795-2,288 Actuarial gains and losses ,215 Share of other comprehensive income of associates that may not be reclassified to profit or loss Total other comprehensive income that may not be reclassified to profit or loss -121,905 38,701 Income and expense recognised in other comprehensive income -129,700 36,413 Total comprehensive income for the period 173, ,812 Attributable to owners of the company 165, ,240 Non-controlling interests 7,212 3,572

94 Consolidated balance sheet Assets 31/12/ /12/2013 restated Equity and liabilities 31/12/ /12/2013 restated Goodwill net 254, ,576 Capital stock 433, ,367 Reserve for assets allocated to RATP 250, , Intangible assets 605, ,266 Reserves 2,155,201 1,995,152 Property, plant and equipment 5,323,994 5,134,386 Retained earnings 298, ,827 Equity attributable to owners of the company 3,137,459 2,972,046 Investments in associates 142, ,617 Available-for-sale financial assets 7,947 7,929 Non-controlling interests 33,194 17,778 Derivative financial instruments - non-current 275, ,986 Financial concession assets - non-current 3,771,769 3,548,781 Equity 3,170,653 2,989,824 Other financial assets - non-current 578, ,762 Deferred tax assets 23,488 17,754 Provisions for employee benefits 758, ,712 Other provisions - non-current 151, ,337 Non-current assets 10,983,798 10,521,057 Loans and borrowings - non-current 5,005,813 5,403,339 Derivative financial instruments - noncurrent 41,189 11,432 Inventories 178, ,006 Deferred tax liabilities 28,167 23,896 Other trade creditors 2,810 4,743 Trade and other receivables 770, ,753 Tax receivables 14,437 7,563 Non-current liabilities 5,988,280 6,193,458 Derivative financial instruments - current 28,436 13,296 Other provisions - current 62,678 55,495 Financial concession assets - current 269, ,334 Loans and borrowings - current 2,924,510 2,182,371 Other financial assets - current 696, ,275 Derivative financial instruments - current 24,470 15,198 Trade and other payables 2,084,949 1,717,943 Cash and cash equivalents 1,317, ,668 Income tax liabilities 4,204 7,996 Assets held for sale 0 12,333 Current assets 3,275,946 2, Current liabilities 5,100,811 3,979,003 Total assets 14,259, ,285 Total equity and liabilities 14,259, ,285

95 Cash flow statement 31/12/ /12/2013 restated Consolidated net income 302, ,399 Elimination of income from equity-accounted associates -11,011-8,323 Elimination of depreciation and amortisation 392, ,797 Depreciation and amortisation of concession assets 308, ,093 Elimination of gains from asset disposals 3,453 10,998 Elimination of other non-cash items -5,917 7,691 Cash flow from operations after net financial expense and tax 989, ,655 Elimination of tax expense (income) 6,150 9,251 Impact of change in working capital excluding investments and grants 94, ,874 Income taxes paid -22,371-13,991 Net cash provided by operating activities 1,067, ,042 Effect of scope changes -68,458-5,113 Purchase of property, plant, equipment and intangible assets -772, ,345 Purchase of concession assets -882, ,105 Purchase of other financial assets 0-41 Change in loans and advances granted -10, ,549 Change in working capital relating to investments and concession assets 46,893-17,086 Investment grants received excluding concession assets 277, ,239 Investment grants received for concession assets 345, ,239 Change in accrued investment grants -7,135 13,122 Proceeds from disposals of property, plant equipment and intangible assets 182, ,241 Dividends received from equity-accounted associates 5,883 7,068 Other net cash used in investing activities -16,218-2,017 Net cash used in investing activities -897, , Non-controlling interests - share of proceeds from capital increase Proceeds from issuance of borrowings 242, ,260 Repayment of borrowings -507, ,764 Change in commercial paper 536,618 10,980 Change in accrued interest -3,827 1,498 Dividends paid to non-controlling interests -3,718-1,998 Other cash flows from financing activities 9,173-2,032 Net cash from financing activities 273,602 3,839 Effect of changes in the exchange rate 4,741-1,798 Change in cash and cash equivalents 448, ,263 Cash and cash equivalents at 1 January 781, ,068 Cash and cash equivalents at 31 December 1,229, ,805 Change in cash and cash equivalents 448, ,263

96 Workforce, environmental and social information THE RATP GROUP HAS ANTICIPATED THE REQUIREMENT UNDER THE GRENELLE LAW AND ITS ENFORCEMENT DECREE TO PUBLISH AND HAVE ALL OF ITS WORKFORCE, ENVIRONMENTAL AND SOCIAL INFORMATION AUDITED BY AN INDEPENDENT ORGANISATION. IT IS ONE OF THE FIRST STATE-OWNED COMPANIES TO PUBLISH A CSR REPORT AS AN INTEGRAL PART OF ITS MANAGEMENT REPORT, FOR THE SECOND CONSECUTIVE YEAR. 86 For its second reporting year, the Group has extended its scope to include 11 of RATP Dev's 16 subsidiaries along with the parent company (Epic). The following five subsidiaries have therefore been included in 2014: two in the United States (Fullington Autobus Company and the Austin, Texas subsidiary), one in the United Kingdom (Yellow Buses in Bournemouth), one in Asia (Hong Kong Tramways) and one in Algeria (Setram). The reporting scope will be gradually extended in future years. Workforce information Total Group headcount (parent + relevant subsidiaries) 31/12/ /12/2014 Full time equivalents (FTE) 49,463 54,014 Physical headcount 50,007 54,790 Breakdown by age (% of physical headcount) 31/12/ /12/2014 Under Breakdown by geographical area (% of physical headcount) 31/12/ /12/2014 France Europe excluding France Rest of world Europe is based on a geographical definition and therefore includes Switzerland. The increased percentage for rest of the world is due to the addition of five more international subsidiaries to the reporting scope.

97 Workforce information (continued) Breakdown by gender (% of physical headcount) 31/12/ /12/2014 Women Men Environmental information Certified industrial sites 31/12/ /12/2014 Number Industrial sites with an environmental management system 31/12/ /12/2014 Number Collective agreements signed during the year Number of agreements signed during the year Work-related accidents 31/12/ /12/2014 Number of lost-time work accidents 2,649 2,740 Number of days leave 134, ,679 Number of hours worked 68,818,164 79,192,723 Frequency Severity Rest of world Training Number of training hours 2,076,386 2,131,115 Gender equality (%) 31/12/ /12/2014 Proportion of women in the total physical headcount Proportion of women among senior executives Disability employment and inclusion (France scope) Number of people with disabilities hired Total number of people with disabilities 31/12/ /12/ ,439 1,493 These figures only apply to France (parent company and French subsidiaries in the scope). The extension of the reporting scope has had no influence on this indicator. Social information Stakeholder complaints about noise and vibrations 31/12/ /12/2014 Number Persons exposed to noise levels above the maximum limit specified by European Directive 2002/49/EC 31/12/ /12/2014 Number 7,128 21,782 This indicator concerns the Europe scope. It is calculated regardless of index used and threshold by transport mode (road, rail). Total water consumption supplied through a public network * 31/12/ /12/2014 M 3 920,531 1,207,034 * Regardless of use. Total energy consumption 31/12/ /12/2014 Ktoe (thousand tonnes of oil equivalent) Breakdown of energy consumption by use (%) 31/12/ /12/2014 Rail traction Bus traction Buildings Greenhouse gas emissions from buildings 31/12/ /12/2014 Tonnes of CO2 equivalent 91,631 92,577 Greenhouse gas emissions from transport services (rail and bus) 31/12/ /12/2014 Tonnes of CO2 equivalent 480, ,081 Group indicator, excluding the OrlyVal Service and Metrolink subsidiaries. 87 Number of indirect jobs (in full-time equivalents) Indirect jobs created by suppliers, including: 28,000 25,000 Indirect jobs created by main contractors 9,700 9,650 Indirect jobs created by their sub-contractors 18,300 15,350 RATP Epic indicators. Suppliers Number of (direct) suppliers to the parent company 4,524 4,724 Proportion of suppliers based in France (%) Proportion of SMEs among direct suppliers (%) 63 * 64 Total purchases from SMEs (in m) 343 * 361 Proportion of purchases from SMEs to total purchases (27.8% excluding energy and rolling stock) 14.8 % * 16.6 % RATP Epic indicators. * Data adjusted for methodology adopted in Partnerships Number RATP Epic indicators. Projects supported by the Foundation Number of projects * Number of beneficiaries 65,000 33,569 * * At 31 October 2014 (figure validated by auditor).

98 Paper and environnemental calculator Using Cocoon Offset rather than a non-recyclable paper, your environmental impact is reduced by 4,577 kg of waste material 677 kg of CO 2 6,767 km travelled using an average European car 123,809 litres of water 7,588 kwh of energy 7,436 kg of timber Source: the carbon footprint assessment is carried out by Labelia Conseil in accordance with Bilan Carbone methodology. The calculations are based on a comparison between the chosen recycled paper and virgin fibre paper using the latest available data from the European BREF (for virgin fibre paper). The results obtained are based on technical information and subject to change. e-accessibility publication

99 GRAPHIC DESIGN AND LAYOUT PHOTO CREDITS Gueorgui Pinkhassov/Magnum Photos (cover, p.14-15, 28-29, 50-51, 66-67). Jean-François Mauboussin/RATP (p.3/5/6/7/ 8/9/12/13/18/19/20/21/23/27/31/35/37/39/41/ 45/53/64/65/69/70/71/72/82. Denis Sutton/RATP (p.20/24/33/34/43/57/ 58/60/61/63/73/79). Bruno Marguerite/RATP (p.19/23/25/30/47/52/53/56/57/59/80/81). Éric Touzé/RATP (p.26/32/59/64). DR (p.7/21/38/43/45/46/75). Martha Lochert (p.21/44 - Tucson). Grant Rooney (p.22-londres). Roland Nagy (p.22-manille). E-com-photos C. Baudot (p.42). Philippe Kara-Agop (p.48). Jean-Marc Gourdon (p.77). PRINTED BY JPA Imprimeurs This reported is printed on 100% recycled Cocoon Offset paper from Arjowiggins Graphic, distributed by Antalis. May practicalities The RATP group s is also available at under the heading Group

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